Xtek Ltd - XTclave delivery complete under first tranche of the Finnish Defence Force contract
Xtek Ltd (ASX:XTE)

XTclave delivery complete under first tranche of the Finnish Defence Force contract

Document   View Announcement

Highlights

First tranche of Finnish Defence Force contract completed

file

Investors watching XTEK’s growth over the past couple of years will be pleased to hear today’s announcement signalling the Company has completed delivery of the first tranche of XTclave manufactured plates under the contract to CPE Production OY in Finland, for use by the Finnish Defence Force (FDF).

A multi-staged order

Importantly, this represents the delivery of one third of the total contact meaning there’s still more to come!

The initial commercial purchase order announced on 5 May 2020, and subsequent order upsize announced on 5 June 2020, worth ~A$2m in total.

XTEK is on track to complete the second and final tranche of the contract to the FDF by Q1 CY21, and in a strong position to secure further orders underpinned by the validation and endorsement of the FDF.

Managing Director's Summary

Philippe Odouard

We are pleased to be able to complete this contract delivery on schedule and look forward to delivering the second tranche of the contract in full over the coming months. The successful delivery provides further validation of the technical capabilities and consistency of our unique products. XTEK is in a strong position to continue executing on its international ballistics strategy and achieve further orders globally, with discussions with potential customers and strategic parties ongoing.

Philippe Odouard
Managing Director, Xtek Ltd
Question   Ask Philippe Odouard a question...

Download Announcement

View this announcement as well as our full profile on the company.
Document   View Announcement
View XTE's Full Profile Arrow Forward

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 Vested Equities' 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.

Trade for $9.50 Arrow Forward
Up