Ballistic armor manufacturer XTEK (ASX: XTE) has secured approval from U.S. authorities for permanent export licenses for its products to Mexico City.
The company’s U.S. subsidiary, HighCom Armor Solutions, currently has export orders worth $2.1 million for hard armor plate and helmet products.
“Previously, exports to Mexico were limited by the need to continuously request export licenses for quantities of any size, with each request typically taking several weeks to be awarded,” Phillipe Odouard, XTEK’s managing director, said in a release. “This new license streamlines the process significantly and makes it a much more attractive opportunity to export to these Mexican customers. The orders represent the start of a new expansion into Mexico that we are confident will build significantly.”
XTEK is based in Canberra, Australia. XTEK acquired Columbus, Ohio-based HighCom Armor Solutions in 2019.
All of HighCom’s products are made in the company’s manufacturing plant in Columbus. The company makes bulletproof vests and personal protective equipment used by law enforcement and the military.
The licensing follows the approval of a warehousing distribution agreement by the U.S. State Department’s Directorate of Defense Trade Controls. The approval allows HighCom Armor Solutions to work with Mexico City-based supplier Performance Materials S.A. de C.V.
The primary end use for the helmets and hard armor plates exported to Mexico will be for federal, state and local law enforcement deployment.
HighCom officials said the value of armor products to be exported to Mexico City over the next 10 years could be up to $50 million.
“Our business development and trade compliance team members have executed on a thorough process to ensure our company is adhering to U.S. government trade compliance regulations, while streamlining supply and delivery of critical lifesaving equipment to our allies south of the border,” said Mike Bundy, CEO of HighCom Armor.
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