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Quickstep secures $500,000 in new European development contracts

Australian advanced materials company Quickstep Holdings Limited (ASX: QHL) is pleased to advise that it has secured new Development contracts with a total value of over $500,000 including further collaborative work with a large European aerospace company.

The projects include paid development work on:

• The manufacture of integrated parts in one cure cycle; and

• Composite repair solutions.

These externally funded and partnered development programs will be undertaken in Quickstep's wholly own German development facility and are focused on individual commercially-confidential programs.

The programs are in keeping with Quickstep's 3-part Business Strategy, which comprises contract manufacturing work, paid Quickstep Process development work and Quickstep Process technology transfer.

These technology developments run in parallel to Quickstep's defence contract programs with Northrop Grumman Corporation, a subcontractor to Lockheed Martin Corporation, to manufacture doors and panels for the F-35 Lightning II Joint Strike Fighter aircraft.

Commenting on the new contracts, Quickstep CEO, Mr Philippe Odouard, said the development initiatives had excellent potential to unlock significant new business opportunities for the Company and form part of its strategy to commercialise its patented Quickstep Process in a range of aerospace, defence and automotive applications.

"We are very fortunate to now have a number of development projects running simultaneously, all of which provide us with valuable revenue and exposure to a wide range of potential new commercial partnerships and commercially focused development programs," he said.

"The Quickstep Process is continuing to gain momentum in the world of composites," he said. "This is the fruit of many years of refinement - not only the Quickstep Process itself, but also of our broader marketing strategy and business plan."

"We expect further high-end partnered Quickstep Process development programs to be announced over the following months," Mr Odouard continued.

Specific details of each of the development programs remain confidential.

Press release issued by Quickstep Holdings Limited on May 6, 2010


 Contact details from our directory:
Quickstep Holdings Limited Aircraft Doors, Fuselage Sections, Subcontracted Composite Parts, Composite Design Consultants, Composite Manufacturing Services, Empennages, Wing Flaps, Carbon-reinforced Composites, Foam Core Composites, Laminates, Ultrasonic Testing


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