Carbon fiber composites manufacturer Quickstep (Sydney, Australia) announced on Aug. 24 that it has received the first purchase order relating to its contract with Lockheed Martin to supply composite wing flaps for the C-130J Super Hercules aircraft.
The order covers preliminary work such as planning, tooling and training activities which are already underway. This component of the contract is expected to be valued between $1.4 million and $1.6 million and will be completed prior to the first delivery of parts.
Together with the recent grant of an export licence, these activities pave the way to finalizing the long-term agreement (LTA) with Lockheed Martin. The LTA is estimated to generate revenues of $75 million to $100 million over five years.
Following signing of the LTA, Quickstep will prepare to manufacture initial components. First delivery of parts is expected in first quarter 2014, in line with global supply chain delivery arrangements.
Quickstep’s managing director Philippe Odouard says that the company’s success in winning competitive international tenders from companies such as Lockheed Martin and Northrop Grumman demonstrated Quickstep’s world-class manufacturing capabilities.
“Quickstep is in partnership with several of the world’s largest aerospace companies, raising awareness of our capacity to deliver high-quality carbon composites products," he says. “The commencement of the contract with Lockheed Martin is an important milestone for Quickstep, and follows closely our opening of the most advanced carbon composites manufacturing facility in Australia. We look forward to securing further contracts and establishing Quickstep as an integral part of the global supply chain for high volume carbon composites manufacturing.”
Editor PickGardner Business Index at 54.1 in January
The US composites industry looks as strong as it has since early 2015, with expectations the highest in years.