15th Oct 2015 07:27
LONDON (Alliance News) - MTI Wireless Edge Ltd on Thursday said its wireless irrigation service provider subsidiary Mottech Water Solutions Ltd has extended its three largest service agreement with clients in Israel.
The extension are for around ILS3.5 million per year in income, or around GBP590,000, and are for three to five years.
MTI Wireless manufactures flat panel antennas for fixed wireless broadband.
"The integration of the Mottech business continues to go smoothly and we expect for Mottech to deliver on our expectations for the current year. We continue to explore where we can extend their products in the irrigation market, and generally how we can move the MTI business further up the value chain to provide services and obtain recurring income streams," said Dov Feiner, MTI's chief executive.
Shares in MTI were up 0.8% to 13.1 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Mti Wireless