The defence contractor formerly known as XTEK has begun trading on the ASX under its new name, HighCom. In a statement on Wednesday, the company said that the change of name had been processed by the Australian Securities and Investment Commission. Its ASX ticker code has gone from XTE to HCL. The changes follow shareholders…
XTEK has won a $1.6 million order for specialist ballistic armour from a European customer that had purchased $2.6 million in armour in July.
Defence contractor XTEK has told shareholders that it will shut its Adelaide site by 2024 and move the factory’s manufacturing and R&D operations to the United States, citing opportunities in that market. XTEK supplies defence products, such as drones, and develops its own, including composite armour based on its proprietary XTclave process. XTclave is a…
The board of defence contractor XTEK wants to change the company’s name to HighCom Limited, and will take the proposed change to shareholders at the upcoming annual general meeting on November 23. XTEK listed on the ASX under that name in 2005 as a supplier of security-related products and services, and trades under the ticker…
Ballistic armour and drone technology manufacturer XTEK continues to ride rising global insecurity, reporting another big jump in revenue in FY23. XTEK reported profit after tax of $6.1 million, up seven percent, on revenue up 54 percent to $89.4 million for the year. EBITDA profit was $10.9 million with the company ending the year with…
Ballistics and technology company XTEK has received an order worth $3.4 million from the Department of Defence to supply spare parts in support of the Small Unmanned Aerial Systems (SUAS) fleet. In a short statement to the ASX on Wednesday, XTEK Group CEO Scott Basham said the company was continuing to provide high-end sustainment support…
Defence contractor XTEK has announced an MoU between its US-based HighCom division and Indian conglomerate Tata, covering the use of Australian-developed composite curing technology for ballistic helmets for the Indian market. According to a statement from XTEK on Monday (Australian time), the collaboration agreement between HighCom Armour Solutions and Tata Advanced Systems Limited (TASL) covers…
Near record first half sales and tailwinds from continuing international instability could lead to the expansion of Xtek’s specialised manufacturing footprint to the US in FY24. This follows global attention for its ‘AK47 stopping level 3 rifle combat helmet’. The company told investors that growth had seen the company developing plans for organic expansion of…
XTEK has been awarded two grants from the Department of Defence, totalling $0.8 million. The ASX-listed defence contractor announced on Tuesday that the grants were through the Defence Global Competitiveness programs and Sovereign Industrial Capability Priority program and valued at $164,268.50 and $658,209.20 respectively. The DGC-backed project covers investment in a new “CNC Virtual Machining…
XTEK Group’s HighCom Armor division has opened a new sales and distribution office in Poland, citing proximity to military and law enforcement customers in Central European and Scandinavian nations. The group’s CEO, Scott Basham, said it located their ultra-lightweight body armour and advanced “rifle rated” helmet technology “squarely in the strategic theatre of support operations”…
