XTEK's US subsidiary HighCom Armour has secured approval for permanent export licenses for ballistic products to Mexico City, with current export orders worth a total of US$2.1m.
This follows the approval of a Warehousing Distribution Agreement (WDA) with strategic partner Performance Materials S.A. de C.V by the US State Department office of Directorate of Defense Trade Controls. The agreement is projected to value personal protective armour products distribution over the next 10 years of up to US$50 million, with an option to increase.
“Previously, exports to Mexico were limited by the need to continuously request export licences for quantities of any size, with each request typically taking several weeks to be awarded – so this new license streamlines the process significantly and makes it a much more attractive opportunity to export to these Mexican customers," Phillipe Odouard, XTEK MD, commented. The orders represent the start of a new expansion into Mexico that we are confident will build significantly.”
The primary end use will be for Federal, State, and Local Municipal personal protection deployment.
“HighCom is excited about this opportunity not only from the more than two decades of working in Mexico but also from the standpoint of our continued commitment to international trade compliance and the effective deployment of resource capability through such programs," Mike Bundy, HighCom CEO, commented.