Insights

Xtek (ASX:XTE) share price climbs higher on international delivery

The Xtek share price is climbing after the company announced it has completed the first international delivery of its XTclave plates.
The post Xtek (ASX:XTE) share price climbs higher on international delivery appeared first on Motley Fool Australia. –

Xtek share price represented by camo covered shipping container being lowered by a crane

The Xtek Ltd (ASX: XTE) share price has surged higher today on the back of a positive market update. At the time of writing, the Xtek share price is up 3.45% to 60 cents. This compares to the All Ordinaries Index (ASX: XAO) which is down 0.42% to 6,051 points.

About Xtek

Defence company, Xtek specialises in a range of products for government agencies, law enforcement, military and space and commercial sectors. Its key products include ballistic armour, lightweight and tactical human load carriage equipment, robotic mechanical systems and unmanned crafts.

International delivery

The Xtek share price was on the move after the company announced it has completed delivery of the first batch of its XTclave manufactured plates to CPE Production OY in Finland. The company said that the shipment of 250 plates will be used by the Finnish Defence Force.

The delivery follows the initial commercial purchase in May and subsequent upsized order in June. The total value of the deal is $2 million.

The company said the acceptance of the plates is one of five Xtek products that are already qualified. The next deliveries are to be fulfilled in the near term, which will complete the contract.

Xtek Managing Director, Mr Phillipe Odouard, commented that the company is confident of continuing to make tailwinds. Mr Odouard said:

We are proud to be able to complete this initial delivery on the back of a long-standing relationship with Finnish Defence. The delivery provides validation of our technical capabilities and products, as well as our international commercialisation strategy.

We continue to make strong progress with other potential customers, including in a range of different channels in the US.

Should you invest in the Xtek share price?

I think that Xtek is an exciting company along with other players in the defence sector such as Electro Optic Systems Holdings Ltd (ASX: EOS). While Xtek is a much smaller company, valued at around $41 million, the potential use for its applications is enormous.

In light of this, I will be adding the Xtek share price to my watchlist and keeping a close eye on its performance over the coming months.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Aaron Teboneras owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Xtek (ASX:XTE) share price climbs higher on international delivery appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!