U.S. aircraft maker Boeing Inc. and Russia's OAO VSMPO-Avisma signed a contract worth more than US$1 billion (euro690 million) to provide titanium forgings for Boeing's 787 Dreamliner passenger jet.
The contract, covering the years 2011-2015, represents a step forward for the Russian company, which previously had sold raw titanium to Boeing.
VSMPO-Avisma, the world's largest maker of titanium products, is 66-percent owned by a subsidiary of the state holding company Rostekhnologii.
Officials on both sides of the deal discounted suggestions that doing business with a state company could be troubled by tense U.S.-Russian relations.
"When we sign contracts for decades and billions of dollars, we are planning on our relations being stable and predictable," said Sergei Kravchenko, the head of Boeing's operations in the former Soviet Union.