Australian carbon fibre composites manufacturer Quickstep Holdings announced Friday (13 November) that it has agreed to purchase Boeing Defence Australia’s aerospace maintenance, repair and overhaul (MRO) capability based in Tullamarine, Victoria. Under the terms of the Asset Purchase Agreement, Quickstep will acquire operating assets plus inventories and certain customer contracts from Boeing Australia Component Repairs (BACR).
Quickstep (through its wholly-owned subsidiary, Quickstep Aerospace Services) will also make offers to certain BACR employees and will take on employee liabilities for transferring employees and certain other business liabilities. An Australian bank has committed to funding the purchase as part of a refinancing package for Quickstep’s existing long-term loan, offering a reduced margin. Financial details were not disclosed....MORE
