MTI Wireless Edge secures new $600m contract

MTI Wireless Edge has won a new contract worth $600m from an existing European customer in the military sector.

The AIM-listed developer and manufacturer of sophisticated antennas and antenna systems said the contract represents an additional element to the one announced on 14 June and will be delivered until mid-2018.

Chief executive officer Dov Feiner said: "We are delighted with this order win which extends our relationship with this customer and we believe that this will generate more opportunities in the future."

At 1550 GMT, the shares were up 3.4% to 23p.