Western Australian-headquartered advanced materials group Quickstep Holdings Ltd has announced a three-way composites manufacturing venture in India to establish a manufacturing facility to target opportunities in India's mass transit and infrastructure s
Western Australian-headquartered advanced materials group Quickstep Holdings Ltd has announced a three-way composites manufacturing venture in India to establish a manufacturing facility to target opportunities in India's mass transit and infrastructure sectors.
Quickstep has signed a memorandum of understanding with New Delhi-based composite components group, NTF Private Ltd and Japanese industrial materials supplier, Avanti Corporation Ltd to utilise Quickstep's patented composites manufacturing technology.
The MOU is aimed at having a commercial-scale Quickstep production facility operational in India by the end of 2006.
It also lays the foundation for a longer-term cooperation between the three signatories in targeting and securing potentially significant manufacturing contracts for the supply of interior panels for rail coaches made of advanced composite materials.
NTF is an advanced composite component manufacturer to the automotive industry of India.
Avanti is a first-tier manufacturer and wholesale supplier of special materials and components to the Japanese rolling stock industry, which is targeting growth opportunities in the rapidly growing Indian market.
Quickstep brings its patented composites manufacturing technology, know-how and expertise to the three-way venture.
Quickstep's technology dramatically reduces the time and cost of composites manufacture compared with traditional methods, utilising an innovative, fluid-based curing technology.
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QUICKSTEP JOINS THREE-WAY INTERNATIONAL VENTURE TO LAUNCH COMPOSITES MANUFACTURING FACILITY IN INDIA
- MOU signed with India's NTF and Japan's Avanti to establish Quickstep manufacturing facility in India as the basis for a long-term growth business.
- Quickstep to license to NTF the technical know-how to manufacture parts using its patented technology.
- A QS20 production machine to be supplied, targeting commercial-scale operations by the end of 2006.
- New venture to target manufacturing contracts for the supply of interior composite components for passenger rail coaches.
- Strong leverage to mass transit opportunities in rapidly growing Indian market and export to other markets.
Australian advanced materials group Quickstep Holdings Limited (ASX: QHL - "Quickstep") today announced a landmark three-way composites manufacturing venture in India after signing a Memorandum of Understanding (MOU) with New Delhi-based composite components group, NTF (India) Private Ltd ("NTF"), and first-tier Japanese industrial materials supplier, Avanti Corporation Ltd ("Avanti"), to establish a manufacturing facility utilising Quickstep's patented composites manufacturing technology and target opportunities in India's rapidly growing mass transit and infrastructure sectors along with export to other market places.
The MOU - which signals Quickstep's first growth step into one of the world's most economically dynamic countries - is aimed at having a commercial-scale Quickstep production facility operational in India by the end of 2006. It also lays the foundation for a longer-term cooperation between the three signatories in targeting and securing potentially significant manufacturing contracts for the supply of interior panels for rail coaches made of advanced composite materials.
NTF is an advanced composite component manufacturer to the automotive industry of India. NTF also manufactures components for various other sectors, including mass transit rail, medical equipment and wind energy industries.
Avanti is a first-tier manufacturer and wholesale supplier of special materials and components to the Japanese rolling stock industry, which is targeting growth opportunities in the rapidly growing Indian market.
Quickstep brings its patented composites manufacturing technology, know-how and expertise to the three-way venture. Quickstep's technology dramatically reduces the time and cost of composites manufacture compared with traditional methods, utilising an innovative, fluid-based curing technology.
Quickstep's CEO, Mr Nick Noble, said India represented an exciting strategic opportunity for Quickstep, given the country's rapid economic growth and significant ongoing investment in infrastructure and mass transit systems.
Examples of this include the world-class Delhi Metro system, which was officially opened in December 2004 and is currently being expanded as one of several major infrastructure projects ahead of the 2010 Commonwealth Games.
"This strong economic growth and rapid expansion in infrastructure is creating significant opportunities, particularly for companies with manufacturing capabilities and technological expertise in the supply of advanced materials to the rail, aerospace, aeronautical and other mass transit industries," Mr Noble said.
"The landmark MOU announced today with NTF and Avanti brings together companies with a significant depth of expertise and strong track records in these industries."
Under the terms of the in-principle agreement, which initially runs for a period of five years, Quickstep will license its technical know-how to manufacture components using the patented Quickstep Process and supply NTF with a Quickstep QS20 composites production machine, along with ongoing technical support, to enable NTF to produce composite components for the railway, aerospace, medical and other relevant sectors.
NTF will supply all local infrastructure to establish and run the business, and will also be responsible for securing contracts and generating business from within India and other markets.
Avanti will provide industry specific knowledge based on its experience in developing systems, products and materials for commuter and high-speed trains. Avanti will also provide support and materials to ensure the smooth operation of the business and facilitate further expansion. All three parties have agreed to cooperate to generate business opportunities to ensure the QS20 machine is fully utilised.
A separate agreement will be entered into covering the commercial aspects with the key terms of this agreement being disclosed once finalised.
Mr Noble said the venture would target opportunities for the manufacture of components that are difficult and/or expensive to produce using traditional composite manufacturing techniques.
"The Quickstep system is ideally suited to manufacturing durable, high-quality coach interior composite parts that meet the highest standards in fire and smoke safety," Mr Noble commented. "There are numerous exciting opportunities in the Indian market, such as the Delhi Metro expansion, which will be targeted by the newly established manufacturing venture."
Quickstep's move into India represents a further important step in the global commercialisation of its manufacturing technology. The Company already has pilot production facilities at the Victorian Centre for Advanced Materials Manufacturing (VCAMM) in Geelong and the Northern Aerospace Technology Exploitation Centre (NATEC) in Manchester, England in conjunction with the University of Manchester.
Last week, Quickstep announced a landmark collaboration with America's National Composite Center (NCC), for the establishment of a Quickstep Center of Excellence in Dayton, Ohio, to showcase its technology to the largest automotive, aerospace, marine and infrastructure companies in North America.
