Perth-based composite materials manufacturer Quickstep Holdings says it will lead a joint development project with the German government and car manufacturer Audi to reduce manufacturing costs.
Quickstep announced today it had signed up for the PRESCHE Project, which aims to achieve cost reductions of up to 30 per cent for light-weight composite parts.
The project aims to achieve the cost reductions through combining and developing Quickstep’s resin spray transfer technology and the Quickstep Process, which speeds up curing times for composite materials.
Quickstep managing director Philippe Odouard said the launch of the program was an “enormous opportunity” for the company.
“We are very much looking forward to working with our partners in the PRESCHE program to further develop the RST technology and Quickstep process for the automotive industry,” he said
“The success of this program will position us to target a very significant medium-term opportunity for composites in the car industry.
Mr Odouard said the initiative had the potential to open a second-growth front for Quickstep, which has been largely focused on the aviation industry.
The PRESCHE project will run until October 2014.
At close of trade today Quickstep shares had gained 13.5 per cent, to finish at 21 cents.