25 April 2005
25 April 2005
Quickstep Technologies Pty Ltd, has unveiled plans to list its shares on the Australian Stock Exchange and has signed an agreement appointing UK based LBBC Technologies as its service support representatives for Europe.
Details of the intended Stock Exchange Listing was made at the JEC Composites Show in Paris, where Quickstep CEO, Mr Nick Noble, said the company intends releasing a Prospectus in June 2005 to raise $6 million (AUS) through an Initial Public Offering.
The listing and associated capital raising will aim to accelerate the global commercialisation of its breakthrough technology for the manufacture of advanced composite materials. Quickstep (currently an unlisted public company) has to date funded the development of its proprietary composites manufacturing process through private investment.
The Perth-based company, whose proprietary Quickstep Process enables the high speed production of advanced composite components at a fraction of the cost of conventional processes, intends to use the monies raised to fund the expansion of its growing portfolio of global alliances, and to establish production facilities which can further demonstrate the commercial efficacy of the Quickstep Process.
""While it is highly likely that we will ultimately list on other international stock exchanges as the use of the technology advances, we have decided to first seek a listing on ASX following strong investor interest and support from our broker,"" Mr Noble said.
Mr Noble said “Quickstep is now ready to adopt a higher public profile as it pushes into its target markets. The proposed fund raising will facilitate a faster take-up of Quickstep through the funding of commercial development of particular aspects of the technology.""
After more than a decade of research and development work, the company already has fully automated Quickstep pilot production facilities operating at separate locations under existing international research collaborations. The operating counter-parties include one of Japan’s largest motor vehicle manufacturers and the UK aerospace manufacturer, National Aerospace Technology Exploitation Centre (“NATEC”) in conjunction with the University of Manchester.
Quickstep Technologies Pty Ltd also signed an agreement appointing Leeds, U.K. based LBBC Technologies as its service support representatives for Europe. Under the agreement, LBBC Technologies will provide breakdown support and planned maintenance on Quickstep machines situated at various R&D centres as well as in composite manufacturing enterprises. The agreement coincides with the delivery and installation of a Quickstep QS5 Pilot Plant at the University of Manchester.
The Quickstep Pilot Plant facility at Manchester is the third fully automated machine to be deployed internationally by Quickstep, with one facility already operating in Geelong, Australia and another placed with one of the world’s leading automakers in Japan.
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