Long-Term Supply Agreement between Velocity Composites and Boeing

June 11 2018

Velocity Composites plc has agreed a Long Term Agreement to secure the supply of complex design consumable kits for the Boeing 737 Max program. In addition, this contract encapsulates the finalization of the agreement for the provision of complex vacuum bags on this program. The agreement extends to December 31, 2021 with a contract value of GBP 3 million. These composite material kits will be produced in Velocity’s Fareham site starting immediately and used by Velocity’s customer for the wing construction on the Boeing 737 Max.

This contract signals a new agreement with an existing customer who is a Tier 1 supplier in the Aerospace industry, and a significant first for Velocity on the Boeing 737 Max program which is a high growth Boeing platform.

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