TIDMMWE
RNS Number : 3652I
MTI Wireless Edge Limited
12 August 2021
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310.
12 August 2021
MTI Wireless Edge Ltd
("MTI" or the "Group")
New Naval Antenna 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
agreement for the development and production of Naval antennas with
Ultra Electronics TCS Inc.
The first phase of the agreement includes the development of two
types of antennas and the supply of several units of each,
together, worth approximately US$570,000. These antennas will be
supplied within the next 20 months. However, the customer plans to
order more antennas if the first order meets all requirements.
Consequently, the agreement includes pricing for all future
purchases, and if, as expected by MTI, Ultra TCS takes up the
option to order further units, the agreement would triple in
value.
MTI's CEO, Moni Borovitz, commented : "This is an important
agreement for MTI, as it represents our first order from a very
well-known and respected system house in Canada specializing in the
design, development and manufacturing of advanced tactical radio
communications systems for defence, security and public safety
applications. We hope this agreement will be the start of a
long-term relationship and we look forward to working closely with
them over the next 20 months so as to be able to demonstrate the
range of our capabilities.
Overall the business is trading well, and we look forward to
announcing our half year results next week."
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)
Amrit Nahal/David Johnson (Sales and
Corporate Broking)
Peterhouse Capital Limited (Joint
Broker) +44 20 7469 0930
Lucy Williams/ Eran Zucker
Novella (Financial PR)
Tim Robertson/Fergus Young +44 20 3151 7008
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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