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Quickstep receives largest Joint Strike Fighter purchase order to date

News International-French

12 Apr 2013

Carbon composites manufacturer Quickstep announced that it has received new F-35 Lightning II Joint Strike Fighter (JSF) purchase orders from global aerospace company Northrop Grumman Corporation during the third quarter 2012/13, under the long term agreements already signed with Northrop Grumman.

Quickstep will manufacture the JSF parts at its new Bankstown Airport facility, with delivery of most of these parts anticipated before the end of 2014.

Quickstep managing director, Philippe Odouard said: “This new purchase order from Northrop Grumman demonstrates the increasing significance of Quickstep’s role as a supplier to the Joint Strike Fighter program.

“Together with our existing contract to supply parts for Lockheed Martin’s C-130J ‘Hercules’ aircraft, our firm order book is now around $20 million mostly for delivery by the end of calendar year 2014.  These recent orders provide the backbone of the revenue growth anticipated from already signed agreements, and should drive a significant increase in manufacturing sales from the 2012/13 year to the 2013/14 year.

We are continuing to negotiate with global aerospace, defence and automobile manufacturers to further extend our order book to support ongoing revenue growth.”

Under various memoranda of understanding Quickstep is supplying carbon fibre composite skins and sub-assemblies for the JSF program. The overall agreement to supply JSF parts from different Original Equipment Manufacturers is valued at up to $700 million to the company over two decades.   At peak production rates, Quickstep is expected to generate JSF revenue of approximately $40 million per annum.

About Quickstep Holdings Limited:
Quickstep Holdings is a manufacturer of advanced carbon fibre composites for the aerospace and defence and automotive industries. The company operates state-of-the-art manufacturing facilities at Bankstown Airport in Sydney, Australia, and has offices in Germany and the United States.

Quickstep is an approved supplier for the international F-35 Lightning II Joint Strike Fighter (JSF) program - the largest military aerospace program in the world, valued at in excess of US$300 billion worldwide. To date more than 58 JSF aircraft have been delivered to the US Department of Defense, and this number is now expected to grow rapidly. The company has also been selected by Lockheed Martin as the sole supplier of composite wing flaps for the C-130J “Hercules” military transport aircraft. Quickstep is currently partnering with some of the world’s largest aerospace/defence organisations, including the US Department of Defense, Lockheed Martin, Northrop Grumman, Airbus and EADS.

Quickstep is also developing patented manufacturing technologies to produce high-volume A-grade finished composite components for automotives and specialist thick parts such as spars and wing skins for large defence and commercial aircraft. The company is currently working with the US Department of Defence to qualify its patented Quickstep Process and Resin Spray Technology (RST) for JSF, and is also conducting a major research and development program with car maker Audi aimed at delivering high-quality finish, low cost, fast processing of carbon fibre composite, together with specialised resins, particularly adapted to the automotive industry.
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