Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).
September 21, 2016
MTI Wireless Edge Ltd
("MTI" or the "Company")
MTI Wireless Edge Ltd (AIM: MWE), the developer and manufacturer of sophisticated antennas and antenna systems and wireless irrigation solution provider, is pleased to announce that it has secured a new contract from a new customer for the development and manufacturing of an antenna solution for a military application. The contract is worth approximately US$0.7 million and is expected to be delivered over the next 24 months.
MTI CEO, Dov Feiner, commented: 'We are delighted with this order win, which is the second new significant antenna contract in three months, which again demonstrates our advanced technology and development capabilities. We believe that these two orders from two new customers will be the first steps in long-term relationships with them.'
For further information please contact:
MTI Wireless Edge
Dov Feiner, CEO
Moni Borovitz, Financial Director
+972 3 900 8900
Allenby Capital Limited
+44 20 3328 5656
About MTI Wireless Edge
MTI is engaged in the development, production and marketing of High Quality, Low Cost, Flat Panel Antennas for Commercial & for Military applications. Commercial applications such as: WiMAX, Wireless Networking, RFID readers &, Broadband Wireless Access. With over 40 years' experience, supplying antennas 100KHz to 90GHz including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals - Utility Market. Military applications include a wide range of broadband, tactical and specialized communications antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.
Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI is also a leading provider of remote control solutions for water and irrigation applications based on Motorola's IRRInet state of the art control, monitoring and communication technologies. Mottech, headquartered in Israel, is the global prime distributor of Motorola for the IRRInet remote control solutions serving its customers worldwide through its subsidiaries and a global network of local distributers and representatives. It utilizes over 25 years of experience in providing its customers with remote control and management systems which ensure constant, reliable and accurate water usage, while reducing operational costs and maintenance costly expenses. Mottech's activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.
This information is provided by RNS