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MTI Wireless Edge picks up US$1mln naval antennas contract

MTI announced a similar-sized antenna contract for a European customer 23 September.

MTI Wireless Edge Limited - MTI Wireless Edge picks up US$1mln naval antennas contract

MTI Wireless Edge Ltd (LON:MWE) has won orders worth just over US$1mln for the supply of military antennas to an existing Israeli customer.       

Dov Feiner, manager of the company’s antenna arm, said: "We are delighted to have secured these orders, which come from an existing customer and are for several naval projects.”

MTI announced a similar-sized antenna contract for a European customer 23 September.

“We have been waiting for these orders to mature for some time and, together with the order announced on 23 September 2019, we have increased our order book and continue to see interesting opportunities in the military antenna segment,” said Feiner.

“We also continue to invest in the commercialization of 5G backhaul solutions which we expect will drive sales growth as mobile phone operators roll out their 5G networks globally."

Quick facts: MTI Wireless Edge Limited

Price: 40.8 GBX

AIM:MWE
Market: AIM
Market Cap: £35.83 m
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