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Quickstep (ASX:QHL) inks “major” drone contract with Carbonix

ASX News, Industrial
ASX:QHL      MCAP $27.25M
03 April 2023 10:54 (AEDT)

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Australian aerospace and composites company Quickstep (QHL) has secured a “significant” new contract with drone maker Carbonix.

The $2.34 million contract is for the production and supply of composite aerostructures for Carbonix’s latest long-range drone.

QHL CEO and Managing Director Mark Burgess said the contract added to the company’s expanding presence in an “exciting” market segment.

“Our engineering-led solutions have great traction with drone companies, and we are delighted to be supporting Carbonix as they increase their market penetration in Australia and the USA,” Mr Burgess said.

“We anticipate the demand for this aircraft will substantially exceed the initial production volume.”

The contract includes the engineering, tooling and production of an initial 40 drone aerostructures. The efforts will be carried out at the company’s facility in Geelong.

Additionally, a period of performance runs will be conducted from May 2023 until June 2024.

Carbonix is one of Australia’s leaders in the manufacturing of commercial unmanned aerial vehicles (UAVs).

Shares in QHL are up 7.58 per cent to 35.5 cents at 10:42 am AEST.

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