Quickstep to supply F-35 JSF components

Under the framework established in the LTA, first JSF parts and first cash flow will be delivered in 2012. The LTA is the first of several agreements which will implement the memorandum of understanding (MOU) that was signed in November 2009 Lockheed Martin and Northrop Grumman.

Under the MOU, Quickstep will supply up to 16 different JSF components, including lower side skins, maintenance access panels, fuel tank covers, lower skins and in-board weapons bay doors, projected to amount to some 36,000+ parts over the life of the programme and could generate annual turnover of around $50 million by 2015. The total value of the work over the life of the aircraft could be up to $700m.

With this large-scale manufacturing agreement now in place, Quickstep has also announced plans to establish a major new aerospace manufacturing facility at Bankstown Airport in south west Sydney, signing a 10-year lease over 4,200m of buildings that were previously used by US aerospace giant Boeing, in a move that will secure the Company's long-term aerospace manufacturing capabilities.

Quickstep chief executive, Philippe Odouard, said it was an historic day for the company, marking the culmination of many years of hard work in promoting Quickstep's aerospace manufacturing capabilities and demonstrating its ability to meet the high standards required under the JSF programme requirements.

“The signing of this LTA signals a genuine quantum shift in Quickstep's development. The international defence industry has perhaps one of the highest barriers to entry of any industry in the world, but, for companies that are successful, the contracts are generally large scale and long-term. Quickstep has now earned its place as a supplier for JSF and we hope many additional aerospace and defence contracts will soon follow.”

www.quickstep.com.au