(Alliance News) - Velocity Composites PLC, a waste management solutions provider to the aerospace industry, on Wednesday said it has partnered with Wesco Aircraft Holdings Inc to expand Wesco's product offering into the composite management services.
Wesco is a US-based distributor and provider of supply chain management services to the aerospace industry.
Velocity said the new service offering, Wesco Composite Management Services, will initially be introduced in North America, and will combine Wesco's supply chain management expertise and Velocity's waste reduction services.
"As aircraft original equipment manufacturers demand higher productivity and production rates, this exciting service provision will transform how large, multi-national aerospace manufacturers procure and utilise composite raw materials and realise the opportunities of the industry, as they strive to remove waste and cost from their manufacturing processes," said Velocity's Interim Chief Executive Officer & Chief Technology Officer Jon Bridges.
Shares in Velocity were trading 9.9% higher at 20.88 pence each on Wednesday afternoon.
Velocity Comp (VEL)