TIDMMWE
RNS Number : 5313D
MTI Wireless Edge Limited
29 October 2020
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
29 October 2020
MTI Wireless Edge Ltd ("MTI" or the "Group")
US$1.5 million 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 the St Petersburg
office of MTI Summit has secured a significant order for delivery
in 2021 from a Russian customer. The contract is worth
approximately US$1.5 million and is a repeat order for the supply
of radio frequency components.
Operating under the Group's Distribution & Professional
Consulting Services Division, MTI Summit represents 40
international suppliers of radio frequency and microwave components
and sells these products to customers. Expert knowledge of both the
international suppliers and customers further enables MTI Summit to
act as a consultant to all parties and assist with devising radio
frequency and microwave solutions, as was the case with this
contract win.
MTI's CEO, Moni Borovitz, commented: "We are very pleased to
have received this significant follow-on order through our St
Petersburg office. While still a relatively new market, our
reputation in Russia for being a reliable partner and consultant to
major corporations is growing. This is reflected in the increase in
revenues from this office and the size of orders being
received."
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 (Corporate Finance)
Guy McDougall (Equity Sales)
Peterhouse Capital 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.
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