XTEK HighCom subsidiary wins US$33.21 million order

XTEK announced that the group’s HighCom Armor Solutions Inc. (HighCom) business has received a significant new purchase order from an undisclosed international customer to the value of US$33.21 million (A$46.8 million) While the specific details of the order remain confidential, a key term of this contract called for the full prepayment of the entire contract value, and XTEK can confirm that this has now occurred.  Additionally, the group can confirm that the contract’s scope of supply is for many tens of thousands of individual advanced ballistic protection items, which will be manufactured at its Columbus, Ohio facility. The HighCom logistics team has been working hard to source and secure the guaranteed supply of the raw materials needed to fulfil this large order from suppliers in the US and Europe, and our expectation is that ~40 percent of this order will be delivered by end of FY2022, with the remainder being delivered in Q1 FY2023. This order takes the group’s total new order bookings since 1 March 2022 to more than A$69.5 million, and the Ballistics Division’s new orders specifically in that time to A$64.4 million. The group continues to field a large volume of inbound enquires for specialist high performance armour products, and international sales and business development teams are engaged with many overseas organisations and agencies to develop potential supply contracts to meet their urgent operational needs. Given the ongoing uncertainty of the current heightened global security environment, the group does not see any reduction in enquiries occurring for the foreseeable future until these global tensions are resolved. Scott Basham, XTEK Group CEO, said, “From its advanced manufacturing capabilities in Columbus and Adelaide, HighCom produces the full range of specialist high-performance hard armour plates, soft armour inserts, ballistic helmets, vests, carriers, pouches, and other sewn goods, for use by military, law enforcement, and first responder customers all around the world. This transformational new…order, will see tens of thousands of HighCom’s advanced, high performance, specialist ballistic protection products deployed to meet our international customer’s immediate and ongoing operational needs. The first bulk shipment of items will be dispatched in coming days, and the business is fully committed to delivering the remaining batches of these life-saving products as quickly as possible over the coming weeks. We continue to engage deeply with this, and other local and international customers, to assist them to resolve their urgent ballistic armour supply needs.” For Editorial Inquiries Contact: Editor Kym Bergmann at [email protected] For Advertising Inquiries Contact: Director of Sales Graham Joss at [email protected]