Velocity Composites enters US market with $100 million GKN agreement
Lancashire-based aerospace composite material kits supplier Velocity Composites is expanding into the US market with an agreement with GKN Aerospace expected to be worth more than US$100 million of revenue over five years.
To support the expansion into international markets, Velocity Composites also announces the development of its first site outside of the UK, a 40,000 sq ft advanced manufacturing facility near to the GKN site in Alabama.
The new facility will build and supply all the composite material kits for GKN’s aerostructure, and has been upgraded to the required clean room standard, where it also includes Velocity’s proprietary digital technology and latest manufacturing systems, covering a diverse range of high-performance composite structures across military, civil and business jet programmes.
The collaboration with GKN – a global leader in the use of composite materials in engineered aerospace structures – uses Velocity’s advanced VRP technology and supply chain services to support GKN’s sustainability and efficiency objectives, assisting the aerospace industry’s push to achieving significant environmental and sustainability improvements in this decade.
Andy Beaden, chairman of Velocity Composites, said: “This is a major milestone for Velocity as we make a permanent entry into the US market and expand our long-standing relationship with GKN. During the pandemic, we worked hard to deepen our relationships with clients and further invest in our technology to prepare for the recovery.
“We believe this agreement will be part of a long-term positive trend from which Velocity will benefit, as customers look to recover from the pandemic and achieve new and improved ways of working, with a key focus on sustainability, as production rates increase to pre-pandemic levels.
“As a company with its roots firmly in the North of England, this agreement is a significant endorsement of both Velocity’s, and the region’s, manufacturing expertise from one of the world’s leading aerospace suppliers. In the future, we look forward to working with more US-based customers.”
The agreement builds on Velocity’s long-standing relationship with GKN Aerospace which started in 2015 and includes existing contracts at three of GKN Aerospace’s UK sites, including Bristol, Luton, and the Isle of Wight. This is the first time that Velocity has worked with GKN outside the UK.
