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XTEK takes important step to commercialising product portfolio

A competitive advantage of the ballistic armour is its reduced weight.
armour plates
FY18 revenue guidance is between $11 and $18 million

XTEK Ltd (ASX:XTE) has received the first domestic purchase order from the Australian Defence Force (ADF) for its proprietary small arms protective insert (SAPI) plates.

The SAPI plates have been manufactured with XTEK’s proprietary patented XTclave™ process.

The XTclave technology makes it possible to manufacture lighter, stronger and stiffer composite articles more efficiently such as the SAPI plates which are 30% lighter.

Validates XTEK’s in-house developed technology

XTEK’s managing director Philippe Odouard said: “This purchase order represents a significant milestone in XTEK’s strategy to commercialise its proprietary product portfolio.

“We now have received purchase orders from key customers in Europe and Australia for our XTclave made SAPI plates, which provides strong validation of the advantages of our in-house developed technology.

“XTEK remains focused on the commercialisation and production of its ballistic products.”

Lightweight high-end ballistic armour

This is first order from the ADF for XTEK’s latest high-end ballistic armour which has been produced in-house using the company’s XTclave technology.

A key reason for ADF’s purchase was the significant reduction in weight compared to other products that offered similar protection levels.

Milestone for XTEK’s commercialisation strategy

The purchase order represents a significant milestone for XTEK’s commercialisation strategy for the XTclave technology.

Discussions and product testing continues with several potential clients globally who have expressed interest in the XTclave technology.

Furthermore, XTEK continues to make progress with the development of its commercial-scale manufacturing and production capabilities.

READ: XTEK reaffirms fiscal 2018 revenue guidance while broker forecasts new products to drive strong growth

XTEK recently reaffirmed its revenue guidance for fiscal 2018.

The developer and manufacturer of protection, military and surveillance products continues to win new contracts in realising mid-range revenue guidance of about $14 million.

Management is forecasting revenues to be in a range between $11 million and $18 million.

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