10th Jan 2020 10:20
(Alliance News) - MTI Wireless Edge Ltd said Friday it has secured an additional order to an existing contract, worth USD600,000 for the manufacturing of military antennas.
MTI Wireless did not name the customer.
The antennas manufacturer said the original order, worth USD1.0 million, was received in March 2019 from an existing customer, and is to be delivered over 40 months.
The additional order is to be delivered within the next 12 months, the Israel-based company said.
Moni Borovitz, chief executive officer, said: "We are delighted with this additional contract win, which demonstrates this customer's satisfaction with out products, technology and service."
"We continue to see expansion and growth opportunities in all sectors of the antenna industry, particularly in the 80 GHz spectrum as mobile operators start to implement the roll-out of their 5G networks," Borovitz said.
MTI Wireless shares were up 0.7% in London at 39.29 pence each on Friday.
By Loreta Juodagalvyte; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Mti Wireless