As discussions around gun violence in the United States continue, counter-market forces concurrently perforate through to the consumer market with defence products manufacturer XTEK receiving a $9.5 million order for body armour through their US-based armour division.
The purchase order comes from a customer that has elected to remain unnamed but will receive their $9.5m order within weeks, consisting of bulletproof body armour and ballistic helmets. In addition to the order itself, XTEK has confirmed it was ordered express which will see the products delivered “rapidly”.
“This new $9.5m order to quickly supply a regional customer with our high performance body armour products, is a further illustration of the Group’s ability to support our customers’ priority operational demands with little to no notice,” said XTEK CEO, Scott Basham.
“XTEK’s HighCom production teams have been working around the clock now for months to manufacture our highly sought after specialist ballistic products, and we continue to be very deeply engaged with many international customers to help them solve their urgent ballistic armour supply requirements.”
The order will be shipped out by XTEK’s HighCom business which is the foundation of their Ballistics Division, based in Columbus, Ohio.
“We supply these world-class, advanced personal protection ballistic products and solutions to militaries, law enforcement agencies, and first responder customers all around the world,” added Basham.
Although headquartered in Adelaide, the US market continues to be the biggest growth opportunity for XTEK which continues to grow the HighCom business which is pursuing multiple large supply opportunities.
The order continues a remarkably busy time for XTEK whose ballistic armour is in huge demand at the moment with the Company having received $22.7m in orders since the start of March 2022.
To put that figure in perspective, XTEK reported $22.3m in revenue across all of FY21.
Products manufactured by XTEK are designed primarily for military and law enforcement but they can also be purchased by civilians in the United States.
Alfred Chan is an Analyst at Emerald Financial, specialising in ASX-listed small cap companies.
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