ASX:XTE - Xtek Ltd Research
Long term SUAS contract secured
XTEK have made several announcements since our last update on the 18th July 2019.
This includes the securing of an agreement with the ADF that could be worth up to A$5m in revenue to XTEK per year until 2026. The initial agreement is for 3 years, with multiple options to extend after that. XTEK will use their recently installed repair facilities in Canberra, complete with electronic and composite repair capability to service the ADF's Aerovironment SUAS fleet.
XTEK have also acquired the HighCom Armour Solutions business which the company expects could serve as a launchpad for the potential commercialisation of XTclave into the lucrative U.S. body armour market. Other announcements and their significance are covered in our update.