Velocity Composites Signs Long Term Agreement

Velocity Composites plc has secured a long term agreement with an existing UK customer in the UK composites’ sector. The Customer, which is US owned, supplies OEMs and Tier 1 aircraft manufacturers. The Agreement secures existing business in the region of £4.1m per annum which includes an additional 0.9 million pound per annum of new business. The aircraft platforms concerned are the A350, A320 and A330 which are strategically important to Velocity. The contract comes after Velocity has been working with the customer for a period of time under Purchase Order cover whilst the requisite contractual arrangements were agreed. Velocity has developed advanced kits for both structural (carbon fiber prepreg, glass fiber prepreg, film adhesives and surface products) and vacuum bag engineered kits for all their major programs.