REFLECTOR: May2006 Velocity Online Newsletter

[Kevin Baker]

 From the newsletter..
I know there was some talk about this earlier....



=============================================================================================
An Exciting Change Is About

To Happen At Velocity
Duane Swing

Velocity Inc. has been rumored to be selling the business to an outside 
firm. This rumor has been circulating around the Velocity chat groups and 
others for some time and perhaps the following comments will clear up what 
is actually happening.

Velocity Inc. is in the final stages of merging with Velocity Aerospace. 
Velocity Aerospace is an international company with close ties in China and 
other Asian countries. We had previously announced a potential stock 
offering but for now this will not be necessary. Scott and I have been 
working with Velocity Aerospace for a couple years trying to work out the 
details and it looks like it is finally happening. Under the new plan, 
Velocity Inc. will continue to be an independent arm of Velocity Aerospace 
and the kit portion of Velocity will remain as before. Velocity Aerospace 
will begin an aggressive program for certification first in China and then 
the US. Many engineering changes will be made using an aircraft-engineering 
firm with experience in certification. Scott Swing will be heading up this 
monumental task.  Scott Baker will continue to be the main contact point 
for our kit aircraft.

Velocity Aerospace has already obtained import/export licensing permits 
from China, have been granted airspace for flight testing and training – a 
first in China for a private company, obtained 80 acres in Xuzhou, China 
for the construction of a manufacturing plant for the certified aircraft 
and other important contracts for this venture.


At 09:17 PM 5/12/2006, Neal Hoffoss wrote:
>The latest newsletter is now online (note, I didn't say quarterly newsletter).
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