XTEK’s HighCom signs MoU with Tata Advanced Systems Ltd
Key highlights:
• XTEK’s HighCom has signed a collaboration agreement with Tata Advanced Systems Ltd
• Collaboration covers the supply of advanced Level III Rifle Combat Helmets for the Indian Defence market using XTEK’s patented XTclave technology
• Significant market demand expected starting in FY2024, as Indian Ministry of Defence commences major capability enhancement program for soldier ballistic head protection
• MoU follows earlier Australian Department of Defence $0.8m grant funding to double its XTclaveTM RCH helmet production in Adelaide.
Monday, 17 April 2023. XTEK Limited (ASX: XTE) (‘XTEK’ or ‘Group’) is pleased to announce that it’s HighCom Armour Solutions Inc. (HighCom), has signed a collaboration agreement with Tata Advanced Systems Ltd (TASL), a division of the world leading Tata Group, to collaborate on the supply of its advanced Level III Rifle Combat Helmets (RCH) for the Indian Defence market.
These world-leading, advanced ballistic helmets, which stop AK-47 and other high-powered assault rifle bullets, are manufactured using our patented XTclaveTM technology.
The agreement comes on the back of a very successful visit by a HighCom delegation, led by the Group CEO, Scott Basham, in February to meet with TASL and see their advanced manufacturing facilities in Bengaluru and Hyderabad.
The Indian Ministry of Defence (MoD) is expected to commence a major capability enhancement program of its soldier ballistic head protection for specialist military units commencing in FY2024, that will potentially see many thousands of new advanced helmets being required each year.
This collaboration agreement follows the announcement on 31 January 2023 of XTEK having received Australian Department of Defence grant funding to double its XTclaveTM RCH helmet production output.
Successful early collaboration to supply the Indian military is expected to see a further deepening of the relationship between the parties, and the potential of a local XTclave production capability being developed in India with TASL.
Scott Basham, XTEK’s Group CEO, said: “We are very pleased to announce the signing of this MoU with Tata Advanced Systems Ltd, a major division of the world leading and highly respected Tata Group, to collaborate on the supply of our unique ‘rifle rated’ Level III Rifle Combat Helmets for the Indian Defence market.
Working with the team at TASL to penetrate the huge Indian Defence market makes tremendous sense for us, and I expect that together, we will be able to fully meet the Indian military’s future requirements for new advanced ballistic head protection with our outstanding XTclave made Rifle Combat Helmets.”
This announcement has been authorised for release by the XTEK Limited Board of Directors
General, Investor & Media Enquiries:
Scott Basham, Group CEO,
T: +61 422 014 593
E: scott.basham@xtek.net