MTI Wireless Edge wins new contract worth $0.7m

MTI Wireless Edge has secured a new contract from a new customer for the development and manufacturing of antenna solutions for a military application, worth about $0.7m.

The company, which develops and manufactures antennas and antenna systems and provides wireless irrigation, said the contract is expected to be delivered over the next 24 months.

Chief executive officer Dov Feiner said: “We are delighted with this order win, which is the second new significant antenna contract in three months, which again demonstrates our advanced technology and development capabilities.

“We believe that these two orders from two new customers will be the first steps in long-term relationships with them.”

At 1240 BST, MTI Wireless shares were up 6.5% to 22.90p.