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Japan's Toho Titanium Co. has begun receiving orders from U.S. aviation customers because Boeing has stopped buying from Russia.
The Japanese company is hastily boosting production of the metal, which is used to make airplanes.
Boeing Co. and Airbus SE are facing shortages due to their refusal to buy from Russia.
The Japanese company has received an order from the Americans, according to which 2,000 to 3,000 tons of titanium sponge should be shipped by the end of 2022.
Earlier the aircraft manufacturers worked with the Russian company VSMPO-AVISMA, the world's largest titanium producer. The company was the main source of metal for Boeing and Airbus.
Boeing announced that it had stopped buying titanium from Russia at the beginning of March. Airbus for the time being continues to supply titanium from VSMPO-AVISMA, but in March it declared about search of alternative supplies.
source: bloomberg.com
The Japanese company is hastily boosting production of the metal, which is used to make airplanes.
Boeing Co. and Airbus SE are facing shortages due to their refusal to buy from Russia.
The Japanese company has received an order from the Americans, according to which 2,000 to 3,000 tons of titanium sponge should be shipped by the end of 2022.
Earlier the aircraft manufacturers worked with the Russian company VSMPO-AVISMA, the world's largest titanium producer. The company was the main source of metal for Boeing and Airbus.
Boeing announced that it had stopped buying titanium from Russia at the beginning of March. Airbus for the time being continues to supply titanium from VSMPO-AVISMA, but in March it declared about search of alternative supplies.
source: bloomberg.com