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Sergei Chemezov (right), the head of Rosoboronexport (file photo) (ITAR-TASS)
September 12, 2006 -- The state-owned Russian arms exporter Rosoboronexport has bought a 41 percent stake in the world's largest titanium producer, VSMPO-Avisma.
The deal was announced by a bank, Renaissance Capital, that helped broker the deal.
VSMPO-Avisma, a Russian company, is a key supplier to Boeing and Airbus, the world's largest manufacturers of civil aircraft.
The sale is seen as a further step in the government's drive to increase state control over strategic industries.