REG - MTI Wireless Edge - Contract win <Origin Href="QuoteRef">MWEE.L</Origin>

MTI Wireless EdgeAnnouncement

18/05/2016 07:06

RNS Number : 5322Y
MTI Wireless Edge Limited
18 May 2016
May 18, 2016
MTI Wireless Edge Ltd
("MTI" or the "Company")
Contract win
MTI Wireless Edge Ltd., a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solution provider, announces that its subsidiary, Mottech Water Solutions Ltd. ("Mottech"), has won a contract for approximately Euro 0.5 million for a water management and irrigation solution. The contract is with a private company and relates to a transport infrastructure project in Southern Europe and is expected to be finished by the end of 2016. Following completion of this phase of the contract there may be the potential for further revenue in 2017.
MTI acquired Mottech, a wireless irrigation solutions provider, in June 2015. During 2015 Mottech contributed USD 6.2 million of revenues to MTI.
Dov Feiner, CEO of MTI commented: "We are very happy with Mottech's performance since we acquired the company and see this contract win as another milestone in Mottech's strategy of getting involved in large projects. This win is for two phases out of three planned in the overall project and if all goes well we should receive a follow on order for approximately Euro 0.3 million in 2017".
For further information please contact:
MTI Wireless Edge
Dov Feiner, CEO
Moni Borovitz, Financial Director
http://www.mtiwe.com/
+972 3 900 8900
Allenby Capital Limited
Nick Naylor
Alex Brearley
+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 includes 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 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 activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.

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