- XTEK (XTE) receives a US$33.21 million (A$46.8 million) purchase order through its HighCom Armour Solutions business from an undisclosed international customer
- The contract’s scope of supply is for tens of thousands of individual advanced ballistic protection items, which will be manufactured in XTEK’s Columbus, Ohio facility
- What’s more, a key term of the contract calls for the full prepayment of the entire contract value
- This order takes the company’s total new order bookings since March 1 to more than $69.5 million, and its ballistics division’s new orders in that time to $64.4 million
- XTE shares are up 25 per cent, trading at 40 cents as of 10:28 am AEST
Defence specialist XTEK (XTE) has received a US$33.21 million (A$46.8 million) purchase order through its HighCom Armour Solutions business from an undisclosed international customer.
The company said the contract’s scope of supply was for tens of thousands of individual advanced ballistic protection items, which will be manufactured in XTEK’s Columbus, Ohio facility.
Further, the terms of the confidential deal require a full prepayment of the entire contract value.
CEO Scott Basham called the order “transformational” for the company.
“The first bulk shipment of items will be dispatched in coming days, and the business is fully committed to delivering the remaining batches of these life-saving products as quickly as possible over the coming weeks,” Mr Basham said.
“We continue to engage deeply with this, and other local and international customers, to assist them to resolve their urgent ballistic armour supply needs.”
This order takes the company’s total new order bookings since March 1 to more than $69.5 million, and the ballistics division’s new orders specifically in that time to $64.4 million.
Just yesterday, the company received a $9.5 million purchase order for the supply of its HighCom body armour and ballistic helmets to an undisclosed customer.
XTEK said it continued to field a large volume of inbound enquiries for its specialist high-performance armour products, and the company’s international sales and business development teams were engaged with many overseas organisations and agencies to develop potential supply contracts to meet their urgent operational needs.
XTE shares were up 25 per cent, trading at 40 cents as of 10:28 am AEST.