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

XTEK’s First International Commercial Order For XTclave™ Plates

Published May 05, 2020

What happened?


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.

Managing Director's summary

Philippe Odouard Managing Director of Xtek Ltd has provided a statement.
Philippe Odouard
Philippe Odouard
Managing Director, Xtek Ltd

"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."

Analysts thoughts

SmallCapInsider from Mawson Graham provides perspective on this recent announcement.
SmallCapInsider
Written by SmallCapInsider
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.

Download Announcement

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

Comments

Share your thoughts about this announcement...

Similar articles
XTEK (ASX:XTE) signs MOU with Space Tech Company MECANO ID
What has happened? XTEK (ASX:XTE) announced that they have signed a Memorandum of Understanding (MOU) with leading Frenc...
2 years ago
XTEK (ASX:XTE) Appoints Defence Veteran of 35 Years as Non-Executive Director
In a surprise market release, XTEK announced that it had appointed Brigadier Mark Smethurst DSC, AM (Ret’d) as a Non-Exe...
2 years ago
XTEK (ASX:XTE) Signs Exclusive Distribution Agreement with Rapid Biosecurity Screening Company KeyOptions Pty Ltd
What has happened? XTEK (ASX:XTE) today announced that they have signed an exclusive distribution agreement with KeyOpti...
2 years ago
Around the web
ASX October winners: The 50 best ASX stocks as Israel-Hamas escalation adds further pressure to fragile markets
The S&P ASX 200 fell -3.8% in October with mid-caps falling -6.94% and small-caps down -5.45% f...
via stockhead.com.au
TMH Market Close: ASX200 slides, Albemarle Liontown deal falls through
The ASX200 closed down just over a third of a per cent today, with nearly all sectors falling into n...
via themarketherald.com.au
Closing Bell: Stupid ASX loses confidence, ends flat… but 25pc of Redbubble’s back
Benchmark ASX index finishes ever so slightly up ASX Sectors led by Financial, IT, Property and Ma...
via stockhead.com.au
Powered by  
  • Company
    Xtek Ltd
  • Website
  • Sector
    Aerospace & Defense
  • Industry
    Aerospace & Defense
  • Code
    ASX:XTE
  • Socials
View Xtek Ltd's Profile

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.

Up