Quickstep Selected to Manufacture Carbon Fibre C-130J Aircraft Wing Flaps

(PresseBox) ( Ottobrunn, )
- Quickstep has been selected by Lockheed Martin as the future sole source supplier for the C-130J composite wing flaps
- First order for non-recurring activities is expected in Q2 2012 with first delivery of parts expected to commence in 2014
- Potential contract value estimated between $75 to $100 million over 5 years
- Order could create 60+ new jobs at advanced manufacturing facility at Bankstown Airport New South Wales

Australian advanced materials company, Quickstep Holdings Limited (ASX: QHL - "Quickstep") has secured its second major aerospace manufacturing program, today announcing it has been awarded the tender to manufacture wing flaps for the C-130J Hercules military transport aircraft.

Quickstep was selected as sole source supplier for the C-130J flaps following an international commercial tender program by Lockheed Martin which attracted bids from numerous manufacturers from around the world. Representatives of Lockheed Martin are scheduled to visit Quickstep's Australian headquarters in the second quarter of 2012 to finalise contract details, which are expected to include a multi-year term and will see Quickstep as sole source global supplier for these part sets.

Managing Director of Quickstep, Mr Philippe Odouard, said that securing the contract represented an outstanding achievement for the Company's contract manufacturing division.

"The award of this C-130J contract further demonstrates Quickstep's ability to contest and win major aerospace manufacturing contracts and confirms our competitiveness on the international stage," Mr Odouard said.

"It is good news for manufacturing in Australia demonstrating that we can keep manufacturing work in country through innovation and high-end capabilities. I would like to pay a particular tribute to the NSW government that supported us in developing the Bankstown facility which will become one of the most advanced in the world. This win could create 60+ new jobs at the Bankstown facility in NSW."

First orders for non-recurring activities for the manufacturing program (such as planning, tooling, training and project management) are expected in Q2 2012 with early cash flows following shortly after. First aircraft parts are scheduled to be delivered in 2014.

Lockheed Martin launched the tender process for the C-130J components after current supplier, Boeing Aerostructures Australia, announced that it will relocate from Sydney to Melbourne. Quickstep has secured a right of first refusal on most of Boeing's existing C-130J manufacturing facilities at Bankstown Airport in Sydney.

The C-130J Hercules aircraft has been in continuous production since 1954 and has been sold to 67 countries world-wide, with Lockheed Martin delivering its 2,400th C-130J aircraft in January 2012. 25 new C-130J aircraft were sold around the world in 2010, with projected sales over the next five years expected to remain at similar levels.

The C-130J program represents Quickstep's second aerospace program following the commencement of manufacturing for the international F-35 Lightning II Joint Strike Fighter program in 2011. Quickstep previously announced the F-35 contract could be worth up to $700 million.
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