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XTEK Ltd

XTEK acquires US ballistic armour company to accelerate product commercialisation potential

XTEK Ltd (ASX:XTE) managing director Phillipe Odouard updates Proactive Investors on the company’s strategic US acquisition of Ohio-based body armour and protective equipment company, HighCom Armor Solutions, Inc.

Mr Odouard says the strategic acquisition represents a key milestone in XTEK’s evolution to become a leading global ballistic armour player.

Completion of the acquisition is expected to take place in September 2019, pending regulatory and HighCom shareholder approvals.

Quick facts: XTEK Ltd

Price: $0.62

Market: ASX
Market Cap: $29.85 m
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XTEK commercialising two new product lines in a favourable market environment

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on 2/10/18

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