Velocity Composites and Boeing Expand Long-Term Contract
21 January 2020 - 9:06PM
Dow Jones News
By Sabela Ojea
Velocity Composites PLC (VEL.LN) said Tuesday that it will
supply Boeing Co. (BA) with structural composite material kits for
the plane maker's single aisle narrowbody jet platform, expanding
the contract the companies signed in 2018.
The supplier of advanced composite material kits to the
aerospace market said the approval follows 18 months of
preparation, planning and audit and will form a key element in its
future growth strategy.
Velocity Composites and Boeing signed a long-term agreement to
supply complex design kits for the Boeing 737 MAX program in June
1, 2018. This agreement has now been expanded to include the supply
of structural composite material kits.
Shares at 0921 GMT were up 2.4% at 42.50 pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 21, 2020 04:51 ET (09:51 GMT)
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