Business
New Naval Antenna Contract Win
New Naval Antenna Contract Win.
About this update from Mti Wireless Edge Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 3652I\n MTI Wireless Edge Limited\n 12 August 2021\n \n \n \n \n This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310.\n \n \n \n \n \n 12 August \n 2021\n \n \n \n \n \n \n MTI Wireless Edge Ltd\n \n \n \n \n (\"MTI\" or the \"Group\")\n \n \n \n \n \n New Naval Antenna Contract Win\n \n \n \n \n \n \n \n \n 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.\n \n \n 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.\n \n \n \n MTI's CEO, Moni Borovitz, commented\n \n : \"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.\n \n \n Overall the business is trading well, and we look forward to announcing our half year results next week.\"\n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n \n MTI Wireless Edge Ltd \n \n \n \n \n +972 3 900 8900\n \n \n \n \n \n \n Moni Borovitz, CEO \n \n \n \n \n \n \n http://www.mtiwirelessedge.com\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Allenby Capital Limited\n \n (Nomad and Joint Broker)\n \n \n \n \n +44 20 3328 5656\n \n \n \n \n \n \n Nick Naylor/Al...