Airbus Aerostructures, Norsk Titanium in titanium delivery deal

Norsk Titanium AS

15/04/2024 13:42

April 15 (Reuters) - Airbus Aerostructures and Norway's
Norsk Titanium  NTI.OL  have completed Master Supply Agreement
negotiations for delivery of titanium parts, the Norwegian metal
3D printing company said on Monday.
    The European Union has so far not banned certain Russian
commodities, and titanium remains exempt from restrictions
imposed after Russia's invasion of Ukraine.
    Airbus has said it is trying to identify alternative
titanium supplies as it would halt its reliance on Russia.
Earlier, Airbus relied on Russia for about half its titanium
needs.
    Some defence companies, including Airbus, have urged
European leaders to refrain from Russian titanium sanctions.
    Russia is the largest producer of titanium, a strategic
metal prized for its strength relative to its weight. It is used
mainly in aircraft engines and landing gear for large planes.   
    The agreement between Airbus Aerostructures, which manages
and delivers rear fuselages and large structural components to
Airbus  AIR.PA , is expected to be signed shortly, Norsk
Titanium said in a statement.
    It did not disclose financial details. 
    

 (Reporting by Elsa Ohlen; editing by David Evans)
 ((elsa.ohlen@thomsonreuters.com;))