14th Jan 2025 15:26
MTI Wireless Edge Ltd - Israel-based communication and radio frequency technology company - Says its Antenna division has received three orders from an unnamed Israeli system house for the development and manufacture of military antennas. The contract has a value of around USD1.0 million, and the antennas are set to be delivered over the course of 2025.
Chief Executive Officer Moni Borovitz says: "As announced several months ago, we continue to see a growing trend of local system houses outsourcing their antenna manufacturing and we are well placed to meet this demand. In this instance, we received two manufacturing orders, reflecting the customer's satisfaction from past services, and one development order for a new technology, which moves us up to a sub-system level, meaning we will provide further capabilities in addition to antennas within customer solutions."
Current stock price: 52.30 pence, up 4.6% in London on Tuesday afternoon
12-month change: up 52%
By Emily Parsons, Alliance News reporter
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