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MTI Wireless Edge - Contract wins

RNS Number : 7796K
MTI Wireless Edge Limited
06 January 2021
 

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

 

6 January 2021

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

 

Contract wins

 

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 its subsidiary MTI Summit has secured several significant orders from an existing customer totaling US$1.7 million, the majority of which will be delivered in Q1 2021.

MTI Summit, the Group's Distribution & Professional Consulting Services Division, is one of the Company's three core divisions. This division's customers are primarily defence entities operating from Israel, as well as hi-tech companies. The division is involved from the early stages of development of a new system by its customers, be it an electronic warfare, surveillance or other electronic system. This brings an opportunity for MTI Summit to support the customer's design by offering suitable components which are ultimately sold to the customer by MTI. MTI Summit sources components from 40 international suppliers of radio frequency and microwave components, most of which are represented on an exclusive basis.

MTI Summit is able to act as a consultant to all parties and assist with devising radio frequency solutions, due to its extensive knowledge of both the international suppliers and its customers. MTI Summit's business model is to buy from its principals abroad and resell the components to customers in Israel. In some cases, MTI Summit engages the principals as customers and they are responsible for compensating the Group by either paying commission or engaging in long term consulting agreements. 

The growth of this division over the last two years is a result of increasing defense budgets and demand for more bandwidth and network security amongst customers. This, together with Israel being an international hub for the development of defence technology, fits well with MTI Summit's strong position in Israel based on the large portfolio of products it represents coupled with its expertise and relationships with customers.

MTI's CEO, Moni Borovitz, commented: "We are very pleased to have received these increased levels of orders at the beginning of the year for immediate supply, especially from a strategic customer, indicating that the relationship is strengthening which bodes well for the future. Trust is a particularly important factor in the defence sector and once earned can lead to the establishment of important long-term business relationships."

 

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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Market: AIM
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