Xtek Ltd - XTEK’s First International Commercial Order For XTclave™ Plates
Xtek Ltd (ASX:XTE)

XTEK’s First International Commercial Order For XTclave™ Plates


What's happened?

XTEK Limited (ASX:XTE "XTEK") has announced that it has received its first international commercial order for its light weight XTclave™ manufactured ballistic plates.

What are the key highlights?

  1. Achieving the first commercial international order, worth >A$1m, is a key milestone in XTEK’s ballistic armour commercialisation strategy.
  2. The purchase order is from CPE Production Oy (CPE), a supplier of high-performance lightweight ballistic protection solutions to the Finnish Defence Forces and other European defence customers.
  3. The purchase order follows an extensive validation and testing process for qualification purposes by the Finnish Army.
  4. XTEK continues ongoing discussions with other potential customers and expects to commence exporting of ballistic products to the US in the near-term.

What does this announcement mean?

Erik Bergseng CFA® from Mawson Graham provides perspective on this recent announcement.
Erik Bergseng CFA®
Written by Erik Bergseng CFA®
Published May 05, 2020

After launching the new XTClave facility in Adelaide in only February of this year, XTEK have secured its first international commercial order for its ballistic plates. This was achieved after an extensive period of testing and validation by external international parties. We believe this is strong validation of XTEK's XTClave technology for use not only within the global defence sector but also other market verticals including potential future aerospace applications. XTEK have also confirmed they are in ongoing discussions with other potential customers, with an expectation of exporting to the US in the near-term.

The information within this section has been provided by Mawson Graham Pty Ltd and is for general information purposes only and is not intended to reflect any recommendations or financial advice. The information in this section has been prepared without taking into account your objectives, financial situation or needs. For this reason, you should consider the appropriateness of the advice or recommendation in light of your own personal circumstances, relevant risk factors, the nature and extent of your risk of loss, as well as the legal and accounting consequences before acting making an investment or trading decision regarding any Financial Product mentioned herein. While it is believed that all information sourced and contained within this section to be accurate at the time of publication, liability for any errors, omissions, accuracy or completeness of the information (except any statutory liability which cannot be excluded) is specifically excluded by Mawson Graham Pty Ltd, its associates, officers, directors, employees and agents. Past performance is not a reliable indicator of future performance. Important Disclosure: Mawson Graham Pty Ltd, its directors, associates and employees advise that they may hold securities, may have an interest in and/or earn brokerage, investor relations fees, corporate fees, and other benefits or advantages, either directly or indirectly from client transactions arising from any information mentioned within this section and in documents published within this section.
Mawson Graham
Mawson Graham

Managing Director's Summary

Philippe Odouard

"This purchase order represents a key milestone for XTEK in the commercialisation of its proprietary XTclave™ technology. The qualification process undertaken, followed by a large order, is a clear execution of our strategy. We have worked very hard to ensure that the long customer cycles have progressed in parallel with the construction of the new manufacturing centre in Adelaide, to ensure that the manufacturing capability is utilised as soon as possible and we are now very pleased to see this strategy successfully executed."

Philippe Odouard
Managing Director, Xtek Ltd

Download Announcement

View this announcement as well as our full profile on the company.

How do I invest?

Considering investing in Xtek Ltd?
Here's how to get started.
Low Cost Brokerage ASX Cheapest ASX Trading Platform
  1. 1

    Create account

    Open an account with an online broker of your choice. If you do not have an existing broker, consider Mawson Graham's A$9.50 flat fee platform.

    Sign up now »
  2. 2

    Search for ASX:XTE

    On your online investment platform search for the stock ticker code ASX:XTE to bring up the company's shares.

  3. 3

    Buy shares

    Place your order however you wish. If you need advice on buying or selling, you should seek the assistance of a full service financial adviser experienced in small cap equities.