MTI Wireless Edge shares jump as Antenna arm wins "significant" order

(Alliance News) - MTI Wireless Edge Ltd on Wednesday said its Antenna division has won a "significant" repeat order from an unnamed system house in Israel.

The Israel-based communication and radio frequency technology company said the order was for the manufacturing of military antennas, and was worth around USD4.0 million in total.

Shares in MTI Wireless Edge were up 8.3% to 52.50 pence each in London on Wednesday morning.

It expects to be delivering the antennas until June 30, 2026.

"We are thrilled with this repeat manufacturing order as it is one of the largest orders we have ever received and demonstrates our ability to deliver high-quality services and innovative solutions to meet our clients' needs," said Chief Executive Officer Moni Borovitz.

"The order entails the supply of state-of-the-art antennas and is integral to an end use which is considered to be one of the most advanced systems of its kind in the world. The antennas are designed to deliver unmatched accuracy and robust communication, leveraging our sophisticated and complex production technology.

"This win, and others like it, add to our growing reputation for providing highly innovate antenna solutions and we look forward to continuing to work closely with defence companies from around the world."

MTI Wireless Edge is due to release its 2024 results on March 17.

By Emily Parsons, Alliance News reporter

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