Velocity Composites, from Burnley, today announced that it is to float on the AIM stock market and that its expected admission date is mid May 2017.
Velocity manufactures advanced carbon fibre and ancillary material kits (predominantly carbon fibre) for use in the production of aircraft.
The Company uses its process knowledge, business processes and proprietary software to reduce the amount of material required by its customers and also reduce the associated material waste when making aircraft parts in addition to a reduction in the time taken to manufacture the part. In turn, this reduces the costs for the entire aircraft manufacturing supply chain, with the kits delivered on time and in the required form to allow its customers to more readily meet the significant increases in build rates.
The aerospace manufacturing industry currently consists of global raw material suppliers, Tier 1 and Tier 2 component manufacturers and Prime manufacturers (“Primes”). Tier 2 component manufacturers typically process and assemble aerospace parts which are then supplied to the Tier 1 manufacturers, who in turn supply the Primes, who design and assemble full aircraft.
Tier 1 manufacturers are Velocity’s main clients and Velocity has two facilities in Burnley and Fareham, Hampshire.
For further information, click on www.velocity–composites.com