Quickstep will be part of a landmark three-way composites manufacturing venture in India with New Delhi-based composite components group NTF and first-tier Japanese industrial materials supplier, Avanti.
The agreement is to establish a manufacturing facility utilising Quickstep’s patented composites manufacturing technology and target opportunities in India’s rapidly growing mass transit and infrastructure sectors along with export to other market places.
The agreement aims to have a commercial-scale Quickstep production facility operational in India by the end of 2006. It also lays the foundation for a longer-term cooperation between the three signatories in targeting and securing potentially significant manufacturing contracts for the supply of interior panels for rail coaches made of advanced composite materials.
Quickstep’s CEO, Mr Nick Noble, said India represented an exciting strategic opportunity for Quickstep, given the country’s rapid economic growth and significant ongoing investment in infrastructure and mass transit systems.
“This strong economic growth and rapid expansion in infrastructure is creating significant opportunities, particularly for companies with manufacturing capabilities and technological expertise in the supply of advanced materials to the rail, aerospace, aeronautical and other mass transit industries,” Mr Noble said.
Quickstep has also now completed the previously announced acquisition of Western Australian-based specialty boat-builder, Flatout Boats.
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