Advanced composites manufacturer Quickstep Holdings, has reported 12 per cent sales increase to to $82.3 million (Australian dollar) for the full fiscal 2020. The Sydney defence, aerospace and advanced manufacturing supplier recorded quarterly sales that ended in June were up seven per cent to $24.6 million compared to the previous corresponding period.
“Our key customers are continuing production in line with plan and production facilities at Bankstown and Geelong continue to meet all contracted delivery schedules and quality requirements,” the company stated in a press release. “We have also seen a very significant reduction in Covid-related supply chain risk over the last eight weeks.”
Quickstep is also carrying a higher level of raw materials inventory than prior to the pandemic.
During the quarter production of components for the tail of the F-35 Lightning joint strike fighter continued at full rate.
Company also said that the contracts for an additional 10 parts for the F-35 were awarded by Northrop Grumman.
A second batch of flare housings for the MJU-68 aircraft flare housing is in production and due for delivery to Chemring Australia in the current quarter.
The company is negotiating with Lockheed Martin on new opportunities to add to its contracts supplying the C-130J Hercules military freighter. Finally, high rate production continued for the Micro-X Nano lightweight X-ray machine.
Fibre2Fashion News Desk (JL)