Quickstep
will manufacture carbon fibre wing flaps for Lockheed Martin's C-130J Hercules
aircraft (photo : John Pumpkin)
Sydney –
Carbon composites manufacturer Quickstep (ASX:QHL) today announced that it has received
the first purchase order relating to its contract with Lockheed Martin to supply
composite wing flaps for the C-130J Super Hercules aircraft.
The order
covers preliminary work such as planning, tooling and training activities which
are already underway. This component of the contract is expected to be valued
between $1.4 million to $1.6 million and will be completed prior to the first
delivery of parts.
Together
with the recent grant of an export licence, these activities pave the way to finalising
the long term agreement (LTA) with
Lockheed Martin. The LTA is estimated to
generate revenues of $75 million to $100 million over five years.
Following
signing of the LTA, Quickstep will prepare to manufacture initial components.
First delivery of parts is expected in 1Q2014, in line with global supply chain
delivery arrangements.
Quickstep’s
Managing Director, Mr Philippe Odouard, said that the company’s success in winning
competitive international tenders from companies such as Lockheed Martin and
Northrop Grumman demonstrated Quickstep’s world-class manufacturing
capabilities.
“Quickstep
is in partnership with several of the world’s
largest aerospace companies, raising awareness of our capacity to
deliver high quality carbon composites products.
“The
commencement of the contract with Lockheed Martin is an important milestone for
Quickstep, and follows closely our
opening of the most advanced carbon composites manufacturing facility in
Australia.
“We look
forward to securing further contracts and establishing Quickstep as an integral
part of the
global supply
chain for high volume carbon composites manufacturing.”
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