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MTI Wireless Edge Ltd - Israel-based communication and radio frequency technology company - Says its Antenna division has won a contract worth about $600,000 from an unnamed local customer in Israel. Says the contract is for the development and delivery of several prototype antennas for defence use, which are to be supplied in the next 12 months.
‘If the prototypes meet the specialist performance criteria, then there is the potential for further larger-scale orders’, it adds.
Chief Executive Officer Moni Borovitz says: ‘We have been tendering for this contract confident in the knowledge that we have the technical capabilities to develop the antennas to the performance specifications required. It is a collaborative process as we work with the client to test the prototypes and there is the potential for this to evolve into a significant long-term order.’
Current stock price: 47.04 pence
12-month change: down 29%
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