Quickstep secures manufacturing development contract

West Perth-based composites technology developer Quickstep Holdings Ltd's German subsidiary has secured its inaugural manufacturing development contract with components developer Airbus Deutschland GmbH, Site Laupheim.

The full text of a company announcement is pasted below

International advanced composites group Quickstep Holdings Limited (ASX: QHL - "Quickstep") has moved quickly to capitalise on its strategic presence in the European aerospace sector, today announcing that its 100%-owned German subsidiary, Quickstep GmbH, has secured its first contract with Airbus Deutschland GmbH, Site Laupheim, the developer and producer of interior components for the Airbus family of aircraft, including the new A380 aircraft.

The landmark development contract, which represents a significant breakthrough in the Company's entry to the global aerospace sector, follows the signing of a Cooperation & Development Agreement (CDA) with Eurocopter, the world's largest helicopter supplier, in May this year.

The first work to be conducted at the new site will involve the manufacture of prototype parts for Airbus Deutschland GmbH, Site Laupheim, a wholly owned subsidiary of the global aerospace company, Airbus.

Quickstep said today (Wednesday) that the new QS20 composites production plant, located at the facilities of the giant EADS Group in Ottobrunn, Munich, has now been fully commissioned, and is ready to commence product development work for a select group of European customers. The new facility will also underpin work to be carried out under the CDA with Eurocopter.

Quickstep's Managing Director, Mr Nick Noble, said the contract with Airbus Deutschland GmbH in Laupheim represented another significant milestone for the Company, following hard on the heels of the successful launch of the new production facility in Germany.

"We are very pleased that the first program in the newly established production facility will be manufacturing development work with one of the world's aerospace leaders," Mr Noble said. "This highlights the value of our strategy of establishing showcase sites in close proximity to key target markets to enable us to work more closely with potential customers."

"We are exceptionally pleased by the positive response we have already received in Germany, with two of the largest participants in the European aerospace sector - Eurocopter and Airbus - having already committed to development work," Mr Noble said. "Quickstep has a strong management team based in Germany who will continue targeting key European companies with an interest in the Company's composites manufacturing technology, and we expect our German operations to contribute substantially to the Company's growth in the years ahead."

Quickstep GmbH is led by CEO, Dr Jens Schlimbach, and Dr Amol Ogale, Head of Production & Development. Both Dr Schlimbach and Dr Ogale have extensive project management experience, having managed a number of German national and international projects at the Institut für Verbundwerkstoffe GmbH ("Institute for Composite Materials") in Kaiserslautern, Germany.

Mr Noble said that, while details of the contract with Airbus Deutschland GmbH in Laupheim would remain confidential, the prototype parts were scheduled to be delivered by the end of September.

"We are confident that these initial manufacturing development programmes, if successful, may lead to additional opportunities down the track," he said.

Both Airbus and Eurocopter are part of the giant EADS group, a global leader in aerospace, defence and related services, which in 2006 generated revenues of over €39 billion.

Quickstep's German facility is the Company's fourth international showcase site, with similar sites also operating at the University of Manchester in the UK, at the National Composite Center in Dayton in the US, and at the Victorian Centre for Advanced Materials Manufacturing (VCAMM) in Geelong, Australia.