Contract Win

RNS Number : 7591X

MTI Wireless Edge Limited

01 May 2019

 

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

1 May 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 Mottech Water Solutions Ltd ("Mottech"), the Group's subsidiary in the wireless irrigation control solutions sector, has signed an agreement valued at more than US$3 million for the provision of solutions in the Chinese market. Mottech has received an initial payment and first order under this agreement, which is expected to be delivered in full within five years. This is the largest individual order ever received by MTI, which will contribute to the Group's overall growth and represents significant growth for its business in China. The agreement is with an existing customer who has previously purchased and installed Mottech's solutions in China.       

Mottech's General Manager, Dudi Shani, commented: "We are delighted with this strategic agreement, which demonstrates a maturation of our business in China since our decision to open a local subsidiary and following the investments made in this region in recent years. The strength of our products, technology and services provided in China over the years has given Mottech a well established reputation that is based on the quality of its solutions, which has helped us in securing this agreement. We see this agreement as an important step in the realisation of the substantial potential in this territory. We believe that China has the potential to become Mottech's biggest market over the coming years."

For further information please contact:

MTI Wireless Edge Ltd                                                                           [phone]

Moni Borovitz, CEO                                                                                 http://www.mtiwirelessedge.com

Allenby Capital Limited (Nomad and Joint Broker)                          [phone]

Nick Naylor

Alex Brearley

Peterhouse Corporate Finance Limited (Joint Broker)                    [phone]

Lucy Williams

Eran Zucker

 

About MTI Wireless Edge ("MTI" or the "Company")

Headquartered in Israel, MTI is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through four 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 Wireless Edge 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.

System Engineering Division

Via its system engineering division, the Group offers the design and integration of aerostat operation systems, along with the ongoing operation of Platform subsystems, SIGINT, RADAR, communication and observation systems.   

Water Control & Management Division

Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), the Group 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.

RF and Microwave Representative and Consultation Division

Via its subsidiary, MTI Summit Electronics Ltd., the group offers representative and expert consultation services specializing in RF and Microwave solutions and applications. It provides its services to international electronics suppliers operating in Israel, Eastern Europe, and Russia.

 

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