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MTI Wireless Edge bags significant Russian contract

MTI Summit represents 40 international suppliers of radio frequency and microwave components and sells these products to customers.

MTI Wireless Edge Limited -

MTI Wireless Edge Limited (LON:MWE) has won a contract worth around US$1.5mln for the supply of radio frequency components.

The order, from a Russian customer, is for delivery this year by the company’s MTI Summit subsidiary.

"Since the acquisition of Summit by MTI in 2013, this division has traded under the MTI Summit brand and has been growing very satisfactorily. Customers are increasingly recognising our ability to source radio frequency and microwave components and to be an active partner in helping to solve design challenges by offering suitable components for a particular solution,” said Moni Borovitz, MTI’s chief executive officer.

“This win is particularly good news for our St Petersburg office, as it is their largest order to date. In addition, there is an order book of further Russian orders which bodes well for this office and for the division as a whole in 2020,” he added.

Quick facts: MTI Wireless Edge Limited

Price: 38.5 GBX

AIM:MWE
Market: AIM
Market Cap: £33.84 m
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