Mti Wireless Share News (MWE)

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68.00 2.00 (2.99%)

Bid:

67.00

Ask:

69.00

Spread: 2.00 (2.985%)

Market Cap: £59.48m

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IN BRIEF: MTI Wireless wins repeat Europe order for military antennas

Mon, 03rd Jul 2023 11:53

MTI Wireless Edge Ltd - Rosh-Ha'Ayin, Israel-based communication and radio frequency techology - Gets a repeat order from an unnamed European customer, worth USD1.4 million. Says the order is for the manufacturing of military antennas. The principal part of the contract relates to manufacturing of an existing product line, with the balance relating to upgrades to the antenna solution. The contract is expected to be delivered within 14 months.

Chief Executive Officer Moni Borovitz says: "We are delighted with this contract win, as it demonstrates this customer's confidence in our technology and the support services we provide. It is also part of the increasing demand that we are currently experiencing in new enquiry levels and new contract negotiations for defence related solutions from throughout Europe as well as other regions."

Current stock price: 44.75 pence each, up 0.6% on Monday morning in London

12-month change: down 25%

By Xindi Wei, Alliance News reporter

Comments and questions to newsroom@alliancenews.com