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MTI Wireless Edge Ltd - Technology group focused on radio frequency solutions across multiple sectors - Says that Mottech Water Solutions Ltd, its water control and management division, has successfully retained a key service contract with a local municipality in Israel. The contract is for two years, with the potential for a five year extension at $200,000 per annum, in total worth up to $1.4 million. According to the terms of the deal, Mottech will continue to be responsible for the efficient and cost-effective irrigation of the green land within the municipality. Chief Executive Officer Moni Borovitz says: ‘We are very pleased to have successfully renewed this local contract, which demonstrates the long-term nature of Mottech’s business. As with similar recent contracts for Israeli municipalities, Mottech has been able to agree an increased fee level for our services which reflects the strength and reliability of our services together with our ability to significantly reduce water usage and associated costs, whilst maintaining optimum irrigation levels.’ Current stock price: 33.95 pence 12-month change: down 33% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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