Canning Vale-based composites manufacturer Quickstep Holdings Ltd has entered into two key agreements that will help consolidate its position a player on the international stage.
Canning Vale-based composites manufacturer Quickstep Holdings Ltd has entered into two key agreements that will help consolidate its position a player on the international stage.
On May 2 the company announced a three-way composites manufacturing venture in India, aimed at establishing a production facility to target opportunities in India’s mass transit and infrastructure sectors.
Quickstep’s goal is to have a production plant operational in India by the end of 2006.
This move follows Quickstep’s deal in late April to establish a centre of excellence, the third international regional facility of its type, in Dayton, Ohio, to showcase its composites technology to global automotive and aerospace companies.
The company has signed a memorandum of understanding with New Delhi-based company, NTF Private Ltd, and a Japanese industrial materials supplier, Avanti Corporation Ltd, to pursue contracts for composite manufactured rail coach panels.
Quickstep chief executive Nick Noble said India represented an exciting strategic opportunity, given the country’s rapid economic growth and significant ongoing investment in infra-structure and mass transit systems.
“The landmark MOU announced with NTF and Avanti brings together companies with a significant depth of expertise and strong track records in these industries,” he said.
Quickstep will apply its expertise in composites to the venture, while NTF will supply local infrastructure to run the business and will also be responsible for securing contracts in India. Avanti will provide its specific knowledge on systems and materials for trains.
The move to establish a shopfront in the US at the National Composite Centre in Dayton is consistent with one of the company’s core strategies to establish international demon-stration locations close to key target industries.
Quickstep has received letters of support from industrial heavy-weights Boeing and General Motors, among others, in support of its North American display facility.
“We anticipate that the development of this showcase centre will significantly enhance Quickstep’s commercial standing in the US as an innovative, cost-effective composites manufacturing solution,” Mr Noble said.
The company will contribute towards the operating costs of the centre over a three year period, and will also provide one of its machines and support personnel.
Quickstep already has pilot production facilities in Japan, Geelong and a third in Manchester, England, run in conjunction with the University of Manchester.
Quickstep’s patented process significantly reduces the production time and cost in the manufacture of composites compared with conven-tional processes. It listed on the ASX in 2005 after a $6 million public float, and has a market capitalisation of around $17.1 million.
