Quickstep restructures its aerospace structures business

Aerospace composites manufacturer Quickstep is to restructure its businesses in response to a slower pace of orders for F-35 fighter jet components through FY25/FY26, cutting manufacturing shifts and staff numbers at its Bankstown headquarters facility in Sydney.

The company, which is becoming increasingly involved in drone manufacture as well as maintenance and sustainment activities, will cut one shift from operations at its Bankstown Structures Business Unit, moving from operating three shifts six-days a week to two shifts five-days a week.

Operations staff will be reduced by 20 percent and support staff by 35 percent as a result, saving $5 million a year.

The changes though painful for the staff involved, together with continued growth in drone production look likely to return Quickstep to profit, a move which will be applauded by shareholders.

Quickstep has blue chip customers including Lockheed Martin and Northrop Grumman and growth opportunities, however has been marked down by investors who have seen loses of around $10 million over the past four years.

The company recently delivered its 100th drone order and announced an expansion of drone manufacturing at Geelong in Victoria.

Quickstep told investors: “This change will drive increased consistency and therefore a higher level of productivity throughout the operating environment, while continuing to meet customers’ requirements for on time delivery and high quality.

“The leaner production environment then enables a rationalisation of the operations support headcount.

“The smaller Operations Leadership, Quality, Procurement and Engineering teams will be supported by enhanced and new investment in technology.”

Quickstep said it would be completing its planning over the next seven to 10 days.

Engineering Development which is focused on UAS development and other new business initiatives and the company’s Services Business Unit are not affected by the restructure.

“Quickstep remains focused on delivering high quality, innovative solutions to our customers.

“Having a sustainably profitable Australian core business is the foundation of enabling the company to pursue its international growth opportunities, which remain a key strategic objective for the Company and one that we continue to pursue aggressively.”

Further reading:
Quickstep announces new drone orders, will expand drone manufacturing

Picture: Quickstep