XTEK Limited (ASX:XTE "XTEK") has announced their March 2020 quarterly update.
What are the key highlights?
- XTEK received the first commercial order for its XTclave™ plates from an Australian Law Enforcement Agency, following the opening of the XTclave™ Manufacturing Centre in Adelaide, and is well-placed to service growing demand for these products and commence exporting to the US.
- SUAS business continues to perform strongly, with additional spare parts ordered by the ADF and supply from the US protected by the classification of Defence as a Priority Sector.
- XTEK is part of the robust Defence sector and continues to experience strong demand and supply, with operations experiencing minimal disruptions due to COVID-19 impacts so far.