Composites manufacturer Quickstep’s Chairman Patrick Largier has left the way open for the company to come to terms with the local conglomerate of defence SMEs, ASDAM Group, which is bidding to take over the company. Largier told the company’s AGM that the company’s board and its advisers were studying the offer. Largier said: “Quickstep’s board…
Aerospace composites manufacturer Quickstep has rejected as inadequate a takeover offer tabled on Thursday by a group of Australian defence contractors represented by ASDAM Operations, a company majority owned by CPE Capital. CPE Capital specialises in growing mid-sized businesses by providing development capital, and has investments in a wide range of businesses, including manufacturers. ASDAM…
Shares in aerospace composites manufacturer Quickstep increased 94 percent today to reach 38 cents on news of a takeover offer that would see the company join an expanding and market leading group of defence suppliers majority owned by CPE Capital. CPE Capital is a highly experienced provider of development capital to medium sized growth businesses…
A study by composites manufacturer Quickstep Technologies and RMIT University has concluded that braiding technology offers an opportunity to enhance the production rate of composite structures for eVTOL UAS applications. A collaboration between Quickstep, RMIT and the Defence Science Institute studied the use of advanced composite manufacturing methodology — braiding — to produce the primary…
Aerospace composites manufacturer Quickstep has been unable to find a buyer for its loss making Quickstep Aerospace Services maintenance business at Tullamarine in Melbourne, and will close the operation. The Maintenance, Repair, and Overhaul (MRO) operation was originally purchased from Boeing Australia, with Quickstep investing $4 million and expanding the operation in 2021. QAS works…
Long servicing CEO and Managing Director and board member Mark Burgess is to leave composites manufacturer Quickstep to pursue other opportunities, according to the Sydney company. The company’s Chief Operating Officer Demi Stefanova will assume the role of Interim Chief Executive Officer, effective immediately. The Chair of Quickstep Patrick Largier said: “The evolving aerospace market…
FY24 was a year for clearing the decks and returning to underlying profit, according to advanced composites manufacturer Quickstep’s yearly financial results. The Sydney company’s full year group revenue exceeded guidance at $99 million with its service group announced for divestiture growing by 94 percent percent year on year to exceed $10 million. With the…
Aerospace composites manufacturer Quickstep is offering to sell its aircraft maintenance division Quickstep Aerospace Services only three years after buying the Tullamarine, Melbourne company. Quickstep paid $2.64 million to buy Boeing Australia Component Repairs Pty Ltd to give itself a new growth business and to add steady MRO income to its high tech manufacture of…
Aerospace composites manufacturer Quickstep has flagged expansions in Australia and potentially the United States as it reported sales up slightly on last year and an underlying operating profit. The Sydney company reported sales for Q4 were four percent down on the same period last year and full year sales up five percent. Sales are being…
Composites manufacturer Quickstep has completed the streamlining of operations of its Structures Business Unit which manufactures parts for F-35 fighter jets and C-130J Hercules transport aircraft. The changes involved a move from a three shift/six-days a week operation to a two shift/five-days a week pattern at its Bankstown, Sydney facility and the implementation of leaner…
