Carbon composites manufacturer Quickstep (ASX:QHL) has 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.
Quickstep, an Australian company at the forefront of advanced composites manufacturing, this year celebrated the opening of its new site, announcing it had secured a five-year contract with Lockheed Martin to produce carbon fibre wing flaps for its C130J Hercules military transport aircraft – worth between $75 million and $100 million.
This week the ASX listed company revealed the first order covers preliminary work such as planning, tooling and training activities which are already underway. This particular 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, the activities pave the way to finalising the long term agreement (LTA) with Lockheed Martin.
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, said Mr Odouard.
In July the company announced it had secured a second long-term agreement with US aerospace giant Northrop Grumman to supply F-35 Joint Strike Fighter components.
“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.”