Velocity Composites enters U.S. market with $100 million GKN Aerospace agreement

URLhttps://www.compositesworld.com/news/velocity-comp
SourceComposites World
Date Published12/21/2022
Author NameGrace Nehls
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Velocity Composites w GKN aerospace
Parent companyVelocity Composites w GKN aerospace
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):30
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2023
Country(ies) from which reshored:United Kingdom
State(s) reshored to:AL
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredAerospace composite material
What domestic positive factors made reshoring more attractive?Eco-system synergies, Manufacturing/engineering joint innovation (R&D), Proximity to customers/market, Skilled workforce availability/training
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