Quickstep Holdings secures $3M debt facility to ramp up aerospace parts production

Quickstep Holdings secures $3M debt facility to ramp up aerospace parts production
Quickstep Holdingswww.quickstep.com.au/

Quickstep (ASX: QHL) is an Australian manufacturer of advanced composite technologies with expertise in the aerospace and automotive industry.

Quickstep Holdings secures $3M debt facility to ramp up aerospace parts production

Wednesday, February 04, 2015 by

Proactive Investors

Quickstep Holdings secures $3M debt facility to ramp up aerospace parts production

Quickstep Holdings (ASX:QHL) has secured a $3 million debt facility as It continues to ramp up production at its Bankstown Airport facility for aerospace manufacturing contracts.This will assist in funding substantial increases in the combined production of parts for the F35 Lightning II Joint Strike Fighter (JSF) and Lockheed Martin C130J Super Hercules.Quickstep completed 188 JSF components in FY2014, increasing production to 200 parts delivered in the first half of FY2015. JSF production continues to ramp up. Production of C130J shipsets has expanded from seven shipsets in FY2014 to 14 shipsets in the first half of FY2015; and is expected to continue at an approximate rate of three shipsets per month. Quickstep's anticipated significant growth in manufacturing activity is on track and manufacturing sales are expected to grow from $12 million in FY2014 to more than $30 million in FY2015. These are expected to generate strong cash flow for Quickstep in subsequent years.Total JSF activity is expected to be worth US$700 million over 20 years.Key aspect of the facility are:- The facility....

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