Industrials

Body armour manufacturer XTEK sees 2022 orders hit $17.6m

Thu 26 May 22, 2:54pm (AEST)
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Key Points

  • ASX-listed body armour manufacturer XTEK has today announced its receipt of an order for $9.5m
  • Company has received over $17m in orders since early March
  • Client undisclosed, XTEK largely provides military grade equipment to police forces at home and overseas

ASX-listed body armour manufacturer XTEK (ASX:XTE) has today announced its receipt of an order valued at $9.5m for the company’s patent body armour and ballistic helmets with shipment to be sent off in the coming weeks. 

The company’s total orders since early March equal $17.6m as demand for the Australian ‘HighCom’ ballistic armour provider picks up in the first half of 2022. 

Total Group new orders since March equal an even higher $22.7m; XTEK also provides robotics solutions for automated explosive ordinance disposal and high-tech sensors, among other equipment. 

The $9.5m order highlighted today sees XTEK requested to offer the rapid supply of equipment. It has in the past provided police forces and other security assets in the Asia Pacific region with its ballistic armour products. 

(Source: XTEK) A snapshot of the company's manufacturing facilities
(Source: XTEK) A snapshot of the company's manufacturing facilities

Manufacturing presence in US and Australia

Following a restructure earlier this year, the company now has a manufacturing footprint in two countries: the US and Australia. 

It possesses a manufacturing facility in Columbo, Ohio, and a second manufacturing facility in Adelaide. Its Adelaide facility is capable of producing the company’s ‘XTClave’ catalogue, which provides adaptable body armour plate solutions for women and “large chested men.” 

In its half yearly report released in February, XTEK noted it had provided a tender to the Australian Department of Defence for explosive removal robotics products. The company is also in negotiations with US-based Recon Robotics for the provision of chemical detection sensors. 

XTEK value-adds as provider of rapid supply requests

Company management highlighted XTEK’s growing capacity to fulfil orders in short time frames, allowing for rapid supply of product to customers. 

“This new $9.5m order to quickly support a regional customer…is a further illustration of the Group’s ability to support our customers’ priority operational demands with little to no notice,” XTEK CEO Scott Basham said. 

“We supply these world-class personal protection ballistic products to militaries, law enforcement agencies, and first responder customers all around the world…we continue to be deeply engaged with many international customers.” 

The company's HighCom ballistics business is registered in the US as a subsidiary trading as HighCom Armor Incorporated. 

XTE's three month charts reveal the company is outperforming the industrials index (XIJ)
XTE's three month charts reveal the company is outperforming the industrials index (XIJ)

 

Written By

Jonathon Davidson

Journalist

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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