XTEK’s HighCom subsidiary completes delivery of A$9.5 million order

XTEK announced that the group’s HighCom Armor Solutions Inc. business has completed the delivery of specialist ballistic products manufactured in its Columbus Ohio facility, that are included under the A$9.5 million order from an undisclosed regional customer, which was previously announced on 26 May. The group confirmed that the entire A$9.5 million  contract value has also now been recognised as a result of this shipment. The group said it  remains optimistic about its FY2022 results and expects that total revenues for the full year will exceed A$60 million. The group said it also expects to carry forward at least A$45 million of backlog orders for delivery in FY2023 and beyond.

Scott Basham, XTEK Group CEO, said “Our HighCom Armor team in Columbus OH, has been working at a frenetic pace to manufacture, package, and now dispatch, this order that we announced on 26 May for an undisclosed regional customer. This shipment, which weighed more than 31,000kgs, and comprised many thousands of individual specialist ballistic armour products, had to be dispatched on a dedicated cargo aircraft due to the urgent nature of the end user’s operational requirements. Significant coordination with certain US Government agencies and other international officials was also involved to facilitate this rapid transaction and fast deployment. We thank everyone involved who contributed and collaborated to see this great outcome achieved. With two major shipments of our life saving personal protective armour products, weighing almost 100 tonnes, having been completed and dispatched in the last week, our HighCom OH team’s focus now swings back to completing the various other major orders currently being produced for completion before 30 June, to ensure we hit our revenue targets by year end.”

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