Quickstep confirms $151 million F-35 component order

Aerospace composites manufacturer Quickstep has agreed to the final terms of a multi-year firm order from Northrop Grumman Corporation for the supply of core fuselage components for the F-35 Joint Strike Fighter.

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

Firm orders received are for aircraft build lots 15-19. As the companies have agreed on pricing through 2028, the value of the deal could reach $281.2 million ($195 million) in total if lots 18-20 are confirmed as firm orders in desired time.

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

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

“This follows recent purchase orders from Marand Precision Engineering for the 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 started working on Batch 15 components at its factory in Bankstown, Sydney (pictured), which will work on firm orders until 2025.

Late this morning, Quickstep shares were trading up 4.9% at 43 cents.

Photo: Quickstep

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Melvin B. Baillie