10th Feb 2020 11:53
(Alliance News) - Antenna manufacturer MTI Wireless Edge Ltd on Monday said it has secured a contract worth USD1.5 million to supply radio-frequency components.
The contract, secured by the St Petersburg office of MTI Summit, is with an undisclosed Russian customer and is due to be delivered in 2020.
MTI Summit is an organisation that operates under MTI's distribution & professional consulting services division. It represents 40 international suppliers of radio-frequency and microwave components and sells these products to customers, MTI said.
"Since the acquisition of Summit by MTI in 2013, this division has traded under the MTI Summit brand and has been growing very satisfactorily. This win is particularly good news for our St Petersburg office, as it is their largest order to date. In addition, there is an order book of further Russian orders which bodes well for this office and for the division as a whole in 2020," said MTI Chief Executive Moni Borovitz.
The stock was trading 8.2% higher at 41.66 pence each on Monday in London.
By Ife Taiwo; [email protected]
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