XTEK books ‘transformational’ $46.8 million order for ballistic armour products
XTEK’s US-based subsidiary HighCom Armor Solutions has received yet another order from an undisclosed customer, this time valued at $US 33.2 million ($46.8 million.)
In a statement to the ASX on Friday morning, the defence company said the contract’s value had been prepaid in full, and covers “tens of thousands of individual advanced ballistic protection items”. These items will be produced at XTEK’s Columbus, Ohio factory in the US.
It acquired HighCom in 2019.
The announcement follows one yesterday for urgent supply of body armour and ballistics helmets to an undisclosed customer and worth $9.5 million, as well as a string of orders since March for protective gear to unnamed clients.
XTEK’s group has booked new orders worth more than $69.5 million since March 1, with its Ballistics Division representing $64.4 million of that.
Calling today’s order “transformational”, CEO Scott Basham said it would see “tens of thousands of HighCom’s advanced, high performance, specialist ballistic protection products deployed to meet our international customer’s immediate and ongoing operational needs.
“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.”
The company said it expected about 40 per cent of the order to be delivered this financial year, and the remainder during the first quarter of the next, citing the situation with supply of raw materials.