Australia: Quickstep Holdings soars 70pc on potential Joint Strike Fighter contracts.Byline: kusumv03 The Australian AEROSPACE and defence play Quickstep quick·step n. A march for accompanying quick time. quickstep Noun 1. a modern ballroom dance in rapid quadruple time 2. music for this dance Noun 1. Holdings fired a big shot this morning, with its shares soaring more than 70 per cent on the back of an agreement that could see it reap the rewards of up to $700 million in fighter jet contracts. The Perth company today said it has signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with global giants Lockheed Martin and Northrop Grumman Systems to secure the potential contracts for the new F-35 Joint Strike Fighter (JSF (JavaServerFaces) A standard framework of components for building rich user interfaces for Java applications. JavaServer Faces run on the server, but are displayed on the client. JSF - JavaServer Faces ) being manufactured in the US for global rollout. Quickstep said the federal government is planning to acquire up to 100 of the advanced fighter jets. The company said it is looking to finalise the deal by March next year which could last between 20 and 30 years and generate annual turnover of $50m by 2015. Managing director Philippe Odouard said the MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. could also lead to other potential defence and aerospace contracts. The finalisation of the deal could create about 156 high-end jobs and may create a further 620 support industry jobs, the company said. Quickstep shares hit a high of 65 cents after coming out of a trading halt Trading Halt A pause in the trading of a particular security on one or more exchanges, usually in anticipation of a news announcement or to correct an order imbalance. During a trading halt, open orders may be cancelled and options may be exercised. this morning before cooling to 53c in intraday trade. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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