Quickstep firms up $151m F-35 components order

Aerospace composites manufacturer Quickstep has agreed final terms for a multi-year firm order from Northrop Grumman Corporation for the supply of centre fuselage components for the F-35 joint strike fighter aircraft.

The order, worth $151.4 million (US$105 million), is pursuant to the existing memorandum of understanding between the two companies for the supply of components for the jet, which is in service with the RAAF.

The firm orders received are for aircraft build lots 15-19. As the companies have agreed on pricing through to 2028, the agreement value could rise to $281.2 million (US$195 million) in total should lots 18-20 be confirmed as firm orders in due course.

Quickstep CEO Mark Burgess said the company was delighted to have agreed on terms for what was the first-ever multi-year buy with Northrop Grumman.

Burgess said: “The firm orders received to date secure our Northrop Grumman F-35 order book through 2025 and are a great example of the value Australian industry delivers to the world’s largest defence aerospace program.

“This follows recent purchase orders from Marand Precision Engineering for production of F-35 vertical tail components for lots 15 and 16 valued at $32.99 million under the existing agreement with this customer.”

Quickstep has already begun work on components for Lot 15 at its Bankstown, Sydney facility (pictured), which will be working on the firm orders through until 2025.

Late this morning Quickstep shares were trading up 4.9 percent to 43 cents.

Picture: Quickstep

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