Selected 2004 Annual Report Summaries: Magnesium

摘要

The Russia-based joint stock company Avisma Titanium-Magnesium Works decided in 2004 to merge with the joint stock company VSMPO to form the corporation VSMPO-Avisma. In 2004, the company began installation and start-up of magnesium alloy die-casting equipment, with the first products planned for delivery by the end of 2005. Initial customers for die-cast products include a Russia-based company that produces electric hand tools, but the company hopes to deliver parts to automobile manufacturers in Europe and the United States in the future. Avisma reported sales of 26.7 kt of magnesium in 2004, with approximately two-thirds of its sales going to North American markets and the remainder to Western Europe and Russia. The company estimates that it as responsible for 6 percent of total world production of magnesium in 2004.