XTEK Ltd Secures $2M Of Australian Defence Force Contracts

13 July 2016

XTEK Ltd (ASX:XTE) has started the new financial year strongly after being awarded Australian Defence Force (ADF) purchase orders valued at $2 million.

The contracts cover the manufacture and supply of components and ancillary parts for a long range precision rifle used by the ADF.

Uwe Boettcher, chairman, commented: ““These orders demonstrate the commitment of XTEK and its suppliers to increasing Australian Industry Content to deliver world-class solutions to the ADF and other security forces in this country.

“The 2017 financial year is shaping to be a period of growth for our company and we are anticipating further contract wins in the coming months.”

Sales details

The Blaser (Blaser Jagdwaffen GmbH, Germany) Tactical 2 Long Range Weapon System is a long range precision rifle used by the ADF.

Under the contracts, XTEK will upgrade the existing fleet of weapons, supply additional weapon systems and provide spare parts for the total fleet of weapons.

These orders position XTEK as a leader in the design and manufacture of value added security and tactical components and systems for Australian Law Enforcement and Military Agencies.

XTEK has worked closely with the Australian Army and Blaser to modify, supply and support the XTEK enhanced Blaser Tactical 2 Long Range Weapon System providing a tailored product that services the unique needs of the Australian Army.

XTEK designs and manufactures a number of enhancements for the Blaser Tactical 2 Long Range Weapon System, including the chassis system, receiver, customised rails and mounts for specific accessory interfaces.

The Australian Industry Content is significant with over 200 weapon components per weapon system to be manufactured in South Australia.


Source : proactiveinvestors.com.au