www.defence.gov.au/casg/AboutCASG/OurStructure/Air/JointStrikeFighterDivision/IndustryParticipation/quickstep.aspx

Quickstep

Quickstep Holdings Limited (Quickstep) is an Australian company at the forefront of advanced composites manufacturing and technology development for the defence, aerospace, mobility and other advanced sectors The company was originally established in Perth, Western Australia, in 2001 to develop the now patented and commercialised, Qure process technology for faster curing of advanced composite components. Quickstep, through its wholly owned subsidiary Quickstep Technologies Pty Ltd, is today the largest independent aerospace-grade advanced composite manufacturer in Australia. Quickstep is partnering with some of the world’s largest aerospace and defence organisations, including Lockheed Martin, Northrop Grumman, BAE Systems plc (via Marand Precision Engineering), Boeing Defense and Chemring Australia. Quickstep has grown from what was a small research and development (R&D) company back in the early 2000s, and has transitioned into a leading aerospace/defence advanced composite component manufacturer in the Australian and international Defence supply chain.

F-35 Program industry participation Quickstep became first involved in the F-35 Program in 2009, when it signed its first major manufacturing agreement with Lockheed Martin and Northrop Grumman for the manufacture of F-35 composite doors and fuselage panels. Quickstep also signed memorandum of understanding with Marand and BAE Systems plc in the same year for the future supply of F-35 vertical tail components. In 2012, Quickstep successfully delivered its first F-35 part to Northrop Grumman from its production operation in Western Australia, marking a significant achievement in the company’s F-35 journey. In 2012, Quickstep relocated from Western Australia to its current location in Bankstown, NSW, where it has invested more than AU$35 million to-date, in advanced manufacturing capital and capability. The next big F-35 Program success for Quickstep came in 2014, with the signing of another long-term agreement, this time with Marand to support the production of composite parts for 700 sets of F-35 vertical tail assembly, ultimately supplied through to BAE Systems plc in the UK. Building on the capability developed with Northrop Grumman, Marand and Quickstep worked together to bring into production at Bankstown, the manufacture of vertical tail spars, fairings and skins. To support this work, Quickstep requested support from the Australian Government’s New Air Combat Capability Industry Support Program (NACC-ISP) and was granted AU$250,000 to qualify for the production of fracture critical components. The vertical tail work led by Marand, is expected to generate approximately AU$750 million over 20 years. Quickstep delivered its first vertical tail parts to Marand in the second half of 2015. In 2016, Quickstep was qualified by BAE Systems plc to undertake the supply of composite parts for the F-35 vertical tail to Marand. This was a significant milestone, providing yet another opportunity for Quickstep to expand its supply in to the F-35 Program’s global supply chain. Quickstep was also part of the Australian team identified when Australia was assigned the component Maintenance, Repair, Overhaul and Upgrade of F-35 aircraft composites by the United States F-35 Joint Program Office in November 2016. Transforming Australian industry The new work associated with F-35 production did not come without its initial challenges, one of which was how Quickstep would fund the purchase of the required equipment when contracts had not yet been put in place. This presented challenges in sourcing capital investment from the financial markets. Working with Marand and Ferra Engineering, Quickstep approached the Australian Government’s Export Finance and Insurance Corporation (EFIC) for assistance, which resulted in an EFIC loan in 2010. The loan enabled Quickstep to make the necessary investments to be production-ready for the F-35 Program. Quickstep also realised, back in 2011 that it would need to expand its production capacity to meet the demands of the F-35 Program. This was easier said than done, with the mining boom dominating available skills in the Perth region at the time. With the support of the New South Wales Government, Quickstep took advantage of an opportunity to take over a large facility Boeing was vacating at Sydney’s Bankstown Airport in mid-2011. Subsequently, Quickstep closed its Western Australian plant in 2012. The Bankstown plant has since expanded to support the F-35 production ramp-up, with investment in a range of advanced manufacturing equipment including - CNC ply-cutting and laser-guided lay-up; Autoclave and Out-of-Autoclave curing; NDT testing equipment; Precision Milling Machine (PMM) cells and robotic trimming; Robotic/Automated drilling and riveting; Complex assembly and painting and; Laboratory testing of materials/components. As a result of its approved supplier status to the F-35 Program, and following an international commercial tender program by Lockheed Martin, Quickstep was selected as the sole global supplier for the C-130J Hercules tactical transporter wing flap in March 2012. Qualification for the wing flap was completed July 2013, and a long-term agreement was signed in December 2013, with a five-year contract valued at US$75 million signed and the first delivery occurring in February 2014. Quickstep now delivers two sets of the wing flaps each month. This contract provides Quickstep with diversity in revenue stream and longevity of export supply. In August 2018, Quickstep signed a Memorandum of Understanding (MoU) with Lockheed Martin associated with the supply of C‐130J and LM‐100J wing flaps for an additional five‐years from 2020 to 2024. In 2017, Quickstep completed a planned AU$10 million capital expansion of its aerospace manufacturing facilities in Bankstown, including a capital investment program for the expansion of F-35 production and the commissioning of an automated robot drilling cell for C-130J production. This takes the total investment made at the Bankstown site to around AU$35 million and provides Quickstep with further production capacity to take on additional advanced manufacturing work at the facility. Next steps Through the advanced manufacturing facilities in Bankstown and the new process technologies developed in-house, Quickstep has the potential to be a world leader in composites process technology solutions. Quickstep is currently pursuing a range of new business opportunities in the Defence and Aerospace sectors and has established a solid foundation for the future through it participation in the F-35 program. The Quickstep story however does not end here. In July 2018, Quickstep was awarded a new defence project to establish production for F-35 countermeasure flare housings. It will be funded via Chemring Australia from the F-35 Joint Program Office (JPO), and additionally a NACC-ISP grant of $1 million is complementing the investment being made by Quickstep. The company will apply advanced tooling and process engineering skills to establish new world‐class advanced manufacturing capabilities at Bankstown. The carbon fibre housings will be supplied to Chemring Australia. This will further extend Quickstep’s capability to support the F‐35 Program and other defence and aerospace projects.

@howie1300  --  This is the reason we are risking our money.  Once the gravy starts to flow, it lasts for more than one meal.  God bless.  

And just for you howie:

https://au.finance.yahoo.com/news/only-2-things-survive-stock-072800969.html

There are only 2 things you need to do to survive when stock prices are falling, according to Warren Buffett

• We may soon be entering a bear market, but it's not time to panic if you're an investor.
• As Warren Buffett wrote in his 2017 letter to shareholders, investors should do two things when stocks are falling: stay in the market and buy at a bargain.
• President Donald Trump also said now is "a tremendous opportunity to buy" stocks.

Depends if your short-term or long.    GL