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XTEK Ltd

XTEK selected as exclusive reseller for Heckler & Koch weapon systems in Australia

XTEK recently responded to multiple tenders for weapon systems with H&K in Australia.

H&K VP9 semi-automatic handgun
H&K VP9 semi-automatic handgun

XTEK Ltd (ASX:XTE) has been appointed by Heckler & Koch GmbH (H&K) to be their exclusive representative for the marketing and sale of their products to the law enforcement and military authorities of Australia.

H&K is a world-leading manufacturer of high quality and innovative weapon systems to security forces, the police and special forces of NATO and NATO associated states.

READ: XTEK delivers record revenue in the first half of FY2019; reaffirms revenue guidance

The new agreement allows XTEK to exclusively market and distribute H&K small arms weapon systems to Australian law enforcement authorities and the Australian Defence Force (ADF).

As the exclusive value-added reseller, XTEK can introduce Australian industry content such as making carbon fibre parts using its XTclave to the weapon systems to best suit customer capability requirements in Australia and overseas.

XTEK will also perform higher margin services such as training, repair and maintenance services on the H&K weapon systems for its life cycle.

READ: XTEK expects at least $11.6 million of revenues this half-year

XTEK managing director Philippe Odouard said: “We are very proud to have been selected as Heckler & Koch’s exclusive value-added reseller in Australia.

“They are a prestigious and world leading manufacturer of high-quality weapon systems to global customers.

“In addition, this agreement enables a pathway to higher margin revenue streams of Australian industry content, training, repair and maintenance services.

“This is aligned with our existing strategy and ensures XTEK is a defence supplier of choice in Australia.”

Multiple tenders for H&K weapon systems

XTEK has recently submitted responses to separate ADF and Victoria Police tenders for the supply of the H&K weapon systems.

The ADF tender covers the long-term supply and maintenance of small arms weapons systems while the Victorian Police tender is associated with the supply of rifles in the short term.

Quick facts: XTEK Ltd

Price: $0.52

Market: ASX
Market Cap: $25.24 m
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