15 April 2014
15 April 2014
Quickstep Holdings has signed a long‐term agreement (LTA) with Marand Precision Engineering Pty.
Under the LTA, Quickstep says it will supply about 700 sets of carbon fibre composite parts for the F‐35 Lightning II Joint Strike Fighter (JSF) aircraft vertical tails to Marand over a period of 14 years. The estimated value of theLTA to Quickstep is US$139 million.
According to Quickstep, each ship set of vertical tails it provides will contain 18 individual parts including skins, spars and fairings. These, and parts from other suppliers, will be assembled by Marand into vertical tails for their customer, BAE Systems in the UK, with delivery to Lockheed Martin’s facility in Fort Worth, Texas, US, where they will be incorporated with other components for the F‐35A variant of the JSF. Quickstep expects to deliver the first parts to Marand’s facility in Victoria, Australia in the second half of 2015.
Quickstep Managing Director, Philippe Odouard, said, “We are delighted to sign this long‐term agreement, which locks in the previous memorandum of understanding with Marand for the Joint Strike Fighter program. This is an important step forward for Australian manufacturing, which demonstrates the value of our capabilities for global aerospace and defence contracts, and our capacity to meet the complex schedules of international supply chains.”
At peak production rates, the new LTA is expected to provide $13 million pa sales revenue for Quickstep. The LTA provides for annual purchase orders initially, with longer‐term purchase orders to be confirmed as the program matures. The LTA follows Quickstep’s memorandum of understanding with Marand, signed in November.
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