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RNS Number : 3612M
MTI Wireless Edge Limited
16 September 2019
 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

 

16 September 2019

 

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 MTI Engineering Ltd ("MTIE"), the Group's expert consulting and representation division, has signed an agreement which includes an initial order valued at approximately US$1 million, for the supply of Hi-Power Microwave Terminations to an Israeli customer over the next 16 months.       

MTIE's General Manager, Adi Peleg, commented: "We are delighted with this agreement because it provides a lot of potential, including scope for the order size to more than double in the next two years, as our customer has designed its system around MTI's component.

We continue to see high demand for our products and services and this agreement is another step in the realization of the substantial potential for our products."

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 Capital Limited (Joint Broker)                                              +44 20 7469 0930

Lucy Williams

Eran Zucker

 

 

About MTI Wireless Edge Ltd

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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Price: 39.5

Market: AIM
Market Cap: £34.59 m
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