QUICKSTEP SECURES SUPPORT OF FUNDS MANAGER AS MAJOR SHAREHOLDER • $6M share placement to Macquarie Funds Management, giving it a 6.0 % fully diluted stake. • Investment follows Macquarie’s visit to Quickstep’s German and UK facilities to meet key staff members and customers, and review operations. • Funds will be used to accelerate aerospace development, focusing on already identified contracts. Quickstep Holdings Limited (ASX: QHL – “Quickstep�) today announced a A$6 million share placement with Macquarie Funds Management (“Macquarie�), securing them as a major shareholder. The advanced composites manufacturer indicated it would deploy the funds to accelerate the commercialisation of its proprietary composites manufacturing technology in the global aerospace industry. The placement – comprising 10 million shares at A$0.60 per share – will give Macquarie a fully diluted 6.0% stake in Quickstep. The funds are in addition to Quickstep’s recently completed A$11 million capital placement and Share Purchase Plan (SPP). “This is a very positive development for Quickstep. It represents a strong endorsement of our total business model of securing direct or joint venture manufacturing contracts with major aerospace groups and their Tier One supply chains, utilising our proprietary technology� commented Quickstep’s Managing Director, Mr Nick Noble. “Securing the involvement of one of the world’s most dynamic and successful investment banks and diversified financial services groups completes what has been a very productive and successful year for Quickstep,� Mr Noble commented. “This investment will enable Quickstep to develop production-ready concepts and technologies for the manufacture of specific aerospace components,� he added. “We are very pleased to have Macquarie Funds Management on board as an investment partner, and we look forward to working with them to accelerate the Company’s long term growth.� Mr Neil Carter, Portfolio Manager of Macquarie Funds Management’s Small Companies Portfolio, said the decision to invest in Quickstep was made following an extensive due diligence process, which included visiting Quickstep’s facilities in Germany and the UK. “We have researched the aerospace and carbon fibre industries in detail, meeting with industry participants in Australia, Europe and North America. We believe that the shift to the next generation of light weight, fuelefficient aircraft marks a paradigm shift for the aerospace industry and one that the traditional autoclave technology is incapable of satisfying. Following discussions with key players – including Airbus’s German and UK divisions, and Eurocopter – we believe there is an excellent opportunity to participate in the strong growth in ‘out-of-autoclave’ solutions.� In October, Quickstep completed another major link in its international network of showcase sites, with the official opening of a new testing and manufacturing facility in Germany. The facility is operated by Quickstep’s wholly owned subsidiary, Quickstep GmbH, and will be used to conduct manufacturing trials and development work for European aerospace groups including Eurocopter and Airbus. The Centre was officially opened by Australia’s Ambassador to Germany, HE Mr Ian Kemish AM, at a function held on site at the EADS group facilities in Munich. A Quickstep QS20 composites production machine was successfully commissioned at the site in August. 2 2 The first projects to be conducted at the site will involve development work carried out under the landmark Cooperation & Development Agreement (CDA) with Eurocopter, the world’s largest helicopter supplier, announced in May; as well as the manufacture of prototype parts for Airbus Deutschland GmbH - Site Laupheim, a wholly owned subsidiary of the global aerospace company, Airbus, announced in August. Both Eurocopter and Airbus are part of the EADS group, a global leader in aerospace, defence and related services, which in 2006 generated revenues of over €39 billion.
QHL Price at posting:
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