logo-loader
viewMTI Wireless Edge Limited

MTI Wireless Edge says irrigation control solution unit inks Chinese contract valued at more than US$3mln

“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 group said

Contract signing
The agreement is with an existing customer who has previously purchased and installed Mottech's solutions in China, MTI added

MTI Wireless Edge Ltd (LON:MWE) announced that its wireless irrigation control solutions subsidiary, Mottech Water Solutions Ltd has signed an agreement valued at more than US$3mln for the provision of solutions in the Chinese market, the largest individual order ever received by the group.

The AIM-listed technology firm, which is focused on comprehensive communication and radio frequency solutions across multiple sectors, said Mottech has received an initial payment and first order under this agreement, which is expected to be delivered in full within five years.

READ: MTI Wireless to deploy tethered balloon system as part of US$1.4mln support services deal

The agreement is with an existing customer who has previously purchased and installed Mottech's solutions in China, the company added.

It pointed out: “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.”

Mottech's general manager, Dudi Shani, commented: "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."

In afternoon trading, shares in MTI Wireless were 1.9% higher at 26.50p.

Quick facts: MTI Wireless Edge Limited

Price: 29 GBX

AIM:MWE
Market: AIM
Market Cap: £25.36 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MTI Wireless Edge Limited named herein, including the promotion by the Company of MTI Wireless Edge Limited in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Thomas Cook enters compulsory liquidation

Headlines from the Proactive UK newsroom. Thomas Cook (LON:TCG) has entered compulsory liquidation sparking the largest repatriation of British holiday makers.  The tour operator collapsed when last ditch-talks over emergency funding failed. MTI Wireless Edge (LON:MWE) has picked up a...

1 month ago

RNS

Contracts Win

2 weeks, 6 days ago

Total Voting Rights

3 weeks, 2 days ago

Contract Win

1 month ago

Contract Win

on 16/9/19

2 min read