Press release
08/07/2009
Quickstep Holdings Limited (ASX: QHL – "Quickstep") is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Composites Technology Research Malaysia Sdn Bhd (CTRM), a major Malaysian-based manufacturer of composite components for Airbus and Boeing aircraft.
The agreement signed in the presence of senior Airbus executives, sees the two organisations agreeing to work together to fast-track the evaluation and certification of Quickstep's Out-of-Autoclave manufacturing technology (the Quickstep Process) with a view to introducing it to CTRM's manufacturing facility based in Melaka Malaysia, as soon as possible.
Both parties are focused on the quick and efficient qualification of parts from CTRM's major customer, Airbus, for use on the new generation A350 aircraft, or other aircraft so that CTRM can commence production of parts in the shortest possible timeframe. CTRM has agreed to introduce the Quickstep technology to the Airbus network and other aircraft manufacturers.
As the fifth largest supplier of composite parts to Airbus worldwide, CTRM brings aerospace industry know-how and commercial connections to assist in facilitating the certification of a flying composite part. Quickstep brings its technology, know-how and expertise in Out-of-Autoclave composite processing.
CTRM, which employs over 1,200 people, is currently expanding its manufacturing facilities to service an order book which currently stands at RM2.8 billion (A$1 billion). One of its major customers is Spirit AeroSystems, the largest independent supplier of aerostructures and systems in the commercial aviation market. Spirit AeroSystems (Europe) Limited has recently decided to open up a new facility in Malaysia.
Quickstep's CEO, Mr Philippe Odouard, said the two companies had agreed to work collaboratively to fast-track the process of certification of the Quickstep Process manufactured part onto a commercial aircraft and then to introduce parts into production, as well as to consider other areas where the two groups might work together.
"This arrangement complements our existing portfolio of global alliances and strong relationships with major global aerospace companies including the EADS Group, as well as Tier One manufacturers and suppliers to these organisations," Mr Odouard said.
"We will work closely with CTRM to apply the Quickstep Process to the commercial production of aerospace parts, in particular for the Airbus A350 Program, which because of its high usage of composites, is one of the key drivers of the forecast expansion of demand for composite components," Mr Odouard commented.
The CTRM program is due to attain part-validation by the fourth Quarter of 2009.