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Australian manufacturer closes European facility

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Quickstep Holdings supplies parts for the Joint Strike Fighter.

An Australian advanced composites manufacturer has announced its research and development (R&D) facility in Germany will close next month.

An Australian advanced composites manufacturer has announced its research and development (R&D) facility in Germany will close next month.

Quickstep Holdings' quarterly report has revealed the facility will close this November, resulting in the retrenchment of 12 R&D staff.

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Quickstep said the closure, which stemmed from the OneQuickstep plan that reviewed the company's operational strategy, heralds "the transition to a single global centre of excellence for R&D in Geelong".

The report noted the business will still focus on new opportunities in Europe and the US, but through manufacturing and technology partnerships with new resources now added to its business development team.

The quarterly report also looked at highlights across the Joint Strike Fighter (JSF) and Lockheed Martin C-130J projects.

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Six ship-sets were delivered in Q1 FY18 for the C-130J project, with the 100th wing flap shipset delivered in July.

293 parts for the JSF project were delivered in the quarter, a slight decline on prior quarter deliveries as Quickstep prepares to materially increase production through the remainder of FY18. Total manufacturing volumes are expected to exceed 1,500 parts during FY18, an increase of over 20 per cent on FY17.

Sales were also in line with program demand and volume commitments, totalling $12.3 million. Quickstep is expecting quarterly sales will increase as JSF production ramps up through the remainder of FY18. The report also showed cash was at $4.3 million at the end of September, up from $3.7 million at 30 June.

Australian manufacturer closes European facility
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