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MTI Wireless Edge - Contract Win

RNS Number : 3642Z
MTI Wireless Edge Limited
10 January 2020
 

 

10 January 2020

 

MTI Wireless Edge Ltd ("MTI" or the "Group")

 

Contract Win

 

MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, is pleased to announce that it has secured an additional order to an existing contract, worth approximately US$0.6 million, for the manufacturing of military antennas. The original order received in March 2019, worth US$1 million, is to be delivered over 40 months. The additional order is to be delivered within the next 12 months.     

MTI's CEO, Moni Borovitz, commented: "We are delighted with this additional contract win, which demonstrates this customer's satisfaction with our products, technology and service. We continue to see expansion and growth opportunities in all sectors of the antenna industry, particularly in the 80 GHz spectrum as mobile operators start to implement the roll-out of their 5G networks".

For further information please contact:

 

MTI Wireless Edge Ltd                                                                                                 +972 3 900 8900

Moni Borovitz, CEO                                                                                                       http://www.mtiwirelessedge.com

 

Allenby Capital Limited (Nomad and Joint Broker)                                                +44 20 3328 5656

Nick Naylor

Alex Brearley

 

Peterhouse Corporate Finance Limited (Joint Broker)                                          +44 20 7469 0930

Lucy Williams

Eran Zucker

 

Novella (Financial PR)                                                                                    +44 20 3151 7008

Tim Robertson

Fergus Young

 

About MTI Wireless Edge Ltd. ("MTI")

Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through three core divisions:

Antenna Division 

MTI is a world leader in the design, development and production of high quality, state-of-the-art, and cost-effective antenna solutions including Smart Antennas, MIMO Antennas and Dual Polarity Antennas for wireless applications. MTI supplies antennas for both military and commercial markets from 100 KHz to 90 GHz.

Internationally recognized as a producer of commercial off-the-Shelf and custom-developed antenna solutions in a broad frequency range, MTI addresses both commercial and military applications.

MTI supplies directional and omnidirectional antennas for outdoor and indoor deployments, including smart antennas for WiMAX, Broadband access, public safety, RFID, base stations and terminals for the utility market.

Military applications include a wide range of broadband, tactical and specialized communication antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide. 

Water Control & Management Division 

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI provides high-end remote control solutions for water and irrigation applications based on Motorola's IRRInet state-of-the-art control, monitoring and communication technologies.

As Motorola's global prime-distributor Mottech serves its customers worldwide through its international subsidiaries and a global network of local distributors and representatives. With over 25 years of experience in providing customers with irrigation remote control and management, Mottech's solutions ensure constant, reliable and accurate water usage, while reducing operational and maintenance costs. Mottech's activities are focused in the market segments of agriculture, water distribution, municipal and commercial landscape as well as wastewater and storm-water reuse.

Distribution & Professional Consulting Services Division 

Via its subsidiary, MTI Summit Electronics Ltd., MTI offers consulting, representation and marketing services to foreign companies in the field of RF and Microwave solutions and applications including engineering services (including design and integration) in the field of aerostat systems and the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems which is performed by the Company.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: MTI Wireless Edge Limited

Price: 37.3

Market: AIM
Market Cap: £32.52 m
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