Canberra (ANTARA News/Asia Pulse) - Perth-based advanced materials company Quickstep (ASX:QHL) has signed a A$700 (US$646.2 million) million manufacturing licence agreement with US aerospace company Northrop Grumman to supply parts for the Lockheed Martin F-35 Joint Strike Fighter (JSF).

This follows the signing of a memorandum of understanding (MOU) with Lockheed Martin and Northrop Grumman in November 2009, under which Quickstep would supply 21 different F-35 components which would be exported to the US for incorporation into F-35 aircraft.

The program is planned to last between 20 and 30 years and generate annual turnover of up to A$50 million (US$46.16 million) by 2015.


Source:
Business in Asia Today - March.18, 2010
published by Asia Pulse

Editor: Ricka
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