Last checked at 21 May 2008 07:00
MTI Wireless Edge Ltd. (the 'Company')
Contract Win
$1.8m Order for Military Application
MTI Wireless Edge Ltd., (ticker: MWE) ('MTI' or 'the Company'), a market leader in the manufacture of flat panel antennas for fixed wireless broadband, today announces that it has received an order from an existing client for the development and manufacture of Military antennas.
The value of the order is approximately US$1.8 million with deliveries over the course of 3 years, while most of the work performed in 12 months period. This order represents one of the largest military orders ever received by the Company.
Dov Feiner, Chief Executive Officer, of MTI commented: "We are delighted with this order for military antennas which provides an important revenue stream for the Company, as well as involvement with such very forefront of antenna technology".
"As the leader in our field MTI is the only company with the technical expertise and capability to provide high specification products for military application as well as industry leading antennas for the commercial, high volume market."
Contacts:
MTI Wireless Edge
Dov Feiner, CEO +972 3 9008900
Moni Borovitz, Financial Director
Blue Oar Securities Plc +44 20 7448 4400
Shane Gallwey/Matthew Marchant
Threadneedle Communications +44 20 7936 9605
Graham Herring / Josh Royston
About MTI Wireless Edge
MTI designs and manufactures flat panel antennas, largely supplied to international OEMs of fixed broadband wireless access systems. With over 30 years of technical 'know-how', flexible high volume manufacturing capabilities and low failure rates, MTI's antennas now comprise approximately 25% of the global fixed broadband wireless antenna market. In addition, the Company has successfully developed products for new commercial applications as wireless systems become increasingly prevalent in new markets.
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