REG - MTI Wireless Edge - Strategic customer agreement

MTI Wireless EdgeAnnouncement

30/09/2021 10:05

RNS Number : 5473N
  
MTI Wireless Edge Limited
  
30 September 2021
  
 

Dissemination of a Regulatory Announcement that contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.
 
30 September 2021
MTI Wireless Edge Ltd 
("MTI" or the "Group")
 
Strategic customer agreement
 
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 a signed a three-year strategic agreement with a large, long-term customer operating in the defence sector with the option for the client to extend the agreement by an additional two years.
The new strategic agreement confirms MTI Summit as the primary supplier of an extensive range of components with pre-agreed pricing, enabling the customer to make orders quicker and more efficiently than the current process. In recent years the customer has ordered approximately $4 million of components from the Group per annum and with this agreement in place the MTI Board believe that the level of future orders is likely to be higher.
MTI's CEO, Moni Borovitz, commented: "This agreement is a natural extension of having been a long-term trusted supplier with a customer who is confident of our capabilities.   Moving to a new structure allows the customer to place orders with us without the need to ask for individual quotations. This will significantly speed up all interactions between the two companies and make all transactions more efficient. We have a reasonable visibility on the future projects that the customer is involved in, and based on this, we are very hopeful that this agreement will further cement our relationship and lead to an increase in future orders."
 
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/Piers Shimwell (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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