Very sad for Australia. But totally predictable for the company. If someone the calibre of Christopher Pyne cannot get a commitment from Defence to use Australian designed and produced helmets which are a world best and has no competition in Autralia, it is pretty hopeless for our industry. Conversely, the US promises to consider Australian products the same way as American products and vice versa. The reality is that they buy local come what may. So relocating the whole activity in the US in a 100% subsidiary makes sense.
Expect something like a dual listing in the US (OTC QX?), the final closure of Canberra where only UAV activity with low margins remains(sell or close).
Shareholders will be left with great value with less costs on 2 sites and a very competitive, best technology based in the US..Buy
Ann: United States XTclave Manufacturing Plans, page-5
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