22 April 2013
22 April 2013
Carbon composites manufacturer Quickstep has received F-35 Lightning II Joint Strike Fighter purchase orders from global aerospace company Northrop Grumman.
These purchase orders come during the third quarter 2012/13, under the long term agreements already signed.
Quickstep says it will manufacture the JSF parts at its new Bankstown Airport facility in New South Wales, Australia, 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.”
Quickstep state that under various memoranda of understanding it is supplying carbon fibre composite skins and sub-assemblies for the JSF programme. The overall agreement to supply JSF parts from different OEMs 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.
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