It’s full steam ahead for Western Australian based advanced materials group Quickstep Holdings Ltd, with the company relocating to new headquarters and principal manufacturing base.
It’s full steam ahead for Western Australian based advanced materials group Quickstep Holdings Ltd, with the company relocating to new headquarters and principal manufacturing base.
The company has elected to move from its existing Canning Vale premises in Perth to its new premises located on Cockburn Road, North Coogee, in order to obtain a larger site, advancing the commercialisation of its patented composites manufacturing technology.
Quickstep CEO Nick Noble told WA Business News the group had reached capacity at its existing facility.
“The new site includes 2,000 square metres of factory space, 500sq m of office space and a total land area of 17,000sq m,” he said.
“The site gives us room to build further facilities for research and development work.”
Production for Quickstep’s recently acquired Flatout Boats business will be conducted at the new promises, as well as other manufacturing, testing and production activities utilising the Quickstep process.
“Compared to the Canning Vale premises, the new site is close to the coast which provides us with the ability to demonstrate the Flatout boats in action,” said Mr Noble.
The group’s technology in developing its folding boats was recently featured on ABC-TV’s New Inventors program, and was voted episode winner by the judging panel.
Mr Noble said the coverage of its technology on the program would generate further interest in the product.
“We are planning to commence production of Flatout Boats from our new facilities in October, and this success on New Inventors will assist in showcasing the boat’s unique design and features to potential consumers,” he said.
“Flatout Boats represents an important step in Quickstep’s strategy to enter marketplaces with shorter lead times to revenue, while the company and its partners meet the requirements necessary to enter the larger longer term aerospace market.
“This business also represents a strong platform for Quickstep to demonstrate its advantages in thermoplastic flat panel production to potential Australian and international clients.”
Flatout Boats Pty Ltd, a folding boat design company run by boat builder Gavin Ager, was acquired by Quickstep in April and is believed to be the first rigid folding boat available on the global market.
Last month, the group raised $3 million to fund the establishment of the Quickstep/NTF/Avanti joint venture manufacturing facility in India, commercialisation of the recently acquired Flatout Boats business, the pursuit of other manufacturing opportunities and for working capital purposes.
Since listing in October 2005, the company’s share price has risen 126 per cent from its initial listing price of 27 cents to close at 61 cents at the end of last week.
The company, at the end of last week, had a market capitalisation of $58 million.
