Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Advanced material group Velocity Composites said it had signed a framework agreement with an existing customer that was a contractor to the UK defence sector.
The agreement set out top-level terms and conditions that underpinned existing work packages with the customer, and enabled additional work packages to be placed.
'This is great news for Velocity,' chief executive Jon Bridges said.
'The group is actively developing its defence sector business, which has not experienced the same headwinds as those being weathered in civil aviation, and this new agreement creates the opportunity to increase sales to this important and influential customer.'
At 9:05am: (LON:VEL) Velocity Composites Plc share price was +5.5p at 22p