Quickstep Holdings has launched a A$6 million ($4.5 million) public share offer as part of its efforts to raise funds to commercialise its composites manufacturing technology.
The Perth, Australia-based company has developed the Quickstep process, which comprises a patented suite of technologies that use fluid curing for manufacturing composites. The Quickstep process allows the high-speed manufacture of composite materials in volumes and at a cost not previously achievable using conventional autoclave processes.
The funds raised from the share offer will be used to accelerate its global commercialisation programme, including expanding alliances, establishing additional production facilities and licensing its technology to original equipment manufacturers and tier one suppliers.
About A$4 million has already been invested by the company’s existing shareholders in developing the process.
Quickstep is issuing 24 million shares at 25¢ per share, with the offer to close on 23 September and a listing on the Australian stock exchange scheduled for early October.
The process is being targeted primarily at the aerospace and automotive industries. Quickstep currently has three pilot production facilities up and running, one of which is at the Northern Aerospace Technology Exploitation Centre in Manchester, UK, in conjunction with the University of Manchester and BAE Systems (Flight International, 3-9 August 2004).
The company has been discussing the Quickstep process with Airbus and Boeing.
EMMA KELLY/PERTH
Source: Flight International
