(MENAFN- ProactiveInvestors)
(ASX:QHL) has established a global research and development centre at Deakin University's Waurn Ponds campus in Victoria where its automotive division is based.
The new R&D centre will manage ongoing development of all its technologies and intellectual property supporting the company's aerospace and automotive facilities in Australia and Germany.
It will support the fast-tracking and industrialisation of Quickstep's patented Qure process for moulding and curing carbon fibre composite parts in niche volumes; and the development of RapidQure a fully automated high-volume manufacturing system for the automotive industry.
These technologies can reduce the cost of manufacturing carbon-fibre components.
Quickstep and Deakin University will continue their close relationship through a long-term Strategic R&D and Education Agreement.
In July the company landed a contract from a global Original Equipment Manufacturer to deliver a series of up to 1000 lightweight carbon fibre interior parts with production commencing in early 2016.
It had sales of $40.4 million for the year ended 30th June 2015 up from $12 million in FY2014. The company also had an order book valued at $74.9 million at that time.
Quickstep had $1.2 million in cash as at 30th June 2015 and available loan facilities of $18.3 million.
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