Quickstep Proud Partner of Lockheed Martin’s LM-100J Commercial Freighter
Sydney, 26 June 2017 – Quickstep Holdings Limited (ASX:QHL), the manufacturer of advanced carbon fibre composites, announced that it is pleased to be a supplier to Lockheed Martin for the new LM-100J commercial freighter, which recently made its global debut at the 2017 Paris Air Show. The LM-100J is based on the C-130J Super Hercules military tactical airlifter and delivers unmatched versatility and proven workhorse capabilities of its military counterpart to commercial operators.
Speaking from the Paris Air Show at Paris–Le Bourget Airport in France, Quickstep’s recently appointed chief executive officer and managing director, Mark Burgess said, “The Quickstep team is extremely proud to be the supplier of wing flaps for the LM-100J in addition to the C-130J military version of this aircraft. The introduction of the LM-100J signifies a new chapter in Hercules operations and we are proud to be a part of this new platform that will truly change the commercial freighter marketplace.”
Mark joined Quickstep as chief executive officer and managing director on 8 May 2017 and went on to say “I am delighted to be on board and I continue to be impressed by Quickstep’s strong and profitable aerospace manufacturing business, its forward order book and revenue growth. Our business has a strong value proposition and significant growth opportunities in multiple sectors.
“I am genuinely excited about Quickstep’s future. We are generating positive cash flow from our aerospace operations and, having concluded a significant capital expenditure program at Bankstown, are successfully supporting very significant increases in Joint Strike Fighter (JSF) production volumes with existing funds that meet our ongoing working capital requirements.
“Quickstep has a number of additional activities underway beyond our core aerospace growth. We will invest substantially in business development to leverage our value proposition more effectively in both aerospace and new technology. Whilst growth remains our priority our business will also be focusing more clearly on costs and returns.
“We expect to implement a series of actions to deliver efficiencies over the coming months. This will improve productivity and cash flow, and accelerate group profitability. The outlook for Quickstep is strong, and we anticipate improved efficiency from our growing JSF production program. In addition, we have opportunities to deliver incremental growth across the portfolio.”
Quickstep will provide the market with a further update on its strategy and FY18 objectives in August 2017, in addition to the normal reporting activities.
Background on Quickstep CEO and managing director Mark Burgess
Mr Burgess joined Quickstep on 8 May 2017, after four years as Vice President Honeywell Aerospace Asia Pacific where he was responsible for driving sustained profitable growth across a defence, space and commercial helicopter portfolio. Previously Mark had a successful career with BAE Systems in Europe, USA, Middle East and South East Asia in sales, contracts, project and general management roles.
