MTI Wireless Edge Ltd - Israel-based communication and radio frequency solutions firm - Announces its distribution & professional consulting services subsidiary MTI Summit has secured several "significant" orders from an undisclosed existing customer totalling USD1.7 million, the majority of which will be delivered in the first quarter of 2021. Says MTI Summit's customers are primarily defence entities operating from Israel, as well as hi-tech companies. Notes this brings an opportunity to support the customer's design by offering suitable components, which are ultimately sold to the customer by MTI.
"We are very pleased to have received these increased levels of orders at the beginning of the year for immediate supply, especially from a strategic customer, indicating that the relationship is strengthening which bodes well for the future. Trust is a particularly important factor in the defence sector and once earned can lead to the establishment of important long-term business relationships," says Chief Executive Moni Borovitz.
Current stock price: 80.34 pence
Year-to-date change: up 11%
By Zoe Wickens; zoewickens@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Mti Wireless (MWE)