By Olivia Bugault

Safran SA has increased its stocks of titanium and is moving to reduce its reliance on Russian provider in light of the Ukraine crisis, Chief Executive Officer Olivier Andries said during a call with journalists Thursday.

The French aircraft engine maker increased its reserves mostly with providers in Germany and is working on accelerating the diversification of its sources of titanium, Mr. Andries said.

"With the stocks [of titanium] we have, we have a few months ahead of us," the CEO said.

Russia's titanium producer VSMPO Avisma Corp. is Safran's main supplier but provides less than 50% of the titanium it needs, he said.

The metal is used by Safran for some parts of its engines and airplane landing gears.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

February 24, 2022 04:28 ET (09:28 GMT)

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