Interfax citing Mr Sergei Chemezov general directors of the state corporation Rostekhnologii as saying that a titanium joint venture between Boeing and VSMPO-Avisma will be opened in July.

Mr Chemezov said "We did not have to worry about serious understandings today, since everything has already been agreed. The agreement on formation of the JV has been signed. It will be opened during President Mr Barack Obama's visit to Russia."

The venture will engage in the final processing of VSMPO wing skin assemblies and their shipment to Seattle.

(Sourced from Interfax)