- Xtek (XTE) receives two new purchase orders from Australia’s Department of Defence, totalling $8.1 million
- The first contract is for spare parts for the existing fleet of Small Unmanned Aerial Systems (SUAS), with a value of $5.7 million
- In addition, the company successfully secured a two year extension on its current SUAS Support Contract, worth $2.4 million
- Shares are trading 4.76 per cent higher to trade at 44 cents each at 12:53 pm AEST
Xtek (XTE) has received two new purchase orders from Australia’s Department of Defence, totalling $8.1 million.
The first contract is for spare parts for the existing fleet of Small Unmanned Aerial Systems (SUAS), with a value of $5.7 million.
In addition, the company successfully secured a two year extension on its current SUAS Support Contract, worth $2.4 million.
CEO Scott Basham said he is pleased to continue providing support to the Department of Defence.
“The spare parts to be purchased under these orders will be held in our state-of-the-art SUAS repair facility in Canberra and will be used to keep this important SUAS capability operational for Defence for years to come,” he said.
Shares were trading 4.76 per cent higher today at 44 cents each at 12:53 pm AEST.