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MTI Wireless Edge secures three defence contracts
(Sharecast News) - MTI Wireless Edge has won three new contracts worth a combined $1.6m for the supply of military antennas, it announced on Monday. The AIM-traded firm said the contracts, awarded by one domestic and two international defence companies, would be fulfilled over the next 20 months by MTI's antenna division.
"We are very pleased to receive this spread of orders coming from one local and two international defence companies," said chief executive officer Moni Borovitz.
"These orders highlight the scope of our technology and capabilities, encompassing a range of solutions including airborne antenna, anti-jamming GPS antenna and sophisticated beam forming antenna to support drone management systems."
The group operates across defence, commercial and utility sectors, with its antenna division delivering solutions for complex and high-specification communication environments.
At 1240 BST, shares in MTI Wireless Edge were up 6% at 47.7p.
Reporting by Josh White for Sharecast.com.
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