Share Name Share Symbol Market Type Share ISIN Share Description
Mti Wireless Edge LSE:MWE London Ordinary Share IL0010958762 ORD ILS0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 26.25p 26.00p 26.50p - - - 0 07:30:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 18.8 1.0 1.5 18.5 13.89

MTI Wireless Edge Limited Major expansion into the Chinese market

19/06/2017 7:00am

UK Regulatory (RNS & others)


MTI Wireless Edge (LSE:MWE)
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RNS Number : 3826I

MTI Wireless Edge Limited

19 June 2017

19 June 2017

MTI Wireless Edge Ltd

("MTI" or the "Company")

Major expansion into the Chinese market

MTI Wireless Edge Ltd (AIM: MWE), a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solutions provider, announces that its wholly owned subsidiary Mottech Water Solutions Ltd ("Mottech") has agreed to establish a joint venture company ("Mottech China") with Omega Technologies LTD ("OTL"), which is an existing third-party sales representative for Mottech's water irrigation solutions in China.

Mottech China will be 60% owned by MTI. In addition to supporting Mottech's activities, it is intended that the joint venture will also sell additional third party products that are complementary to Mottech's equipment which are currently being sold by OTL in China.

As announced previously, over the last 12 months, MTI has won a number of contracts for irrigation management solutions in China. MTI's Board believes that there is strong demand from China for sophisticated and efficient irrigation solutions, for both the agricultural and landscape sectors.

Dov Feiner, Chief Executive Officer of MTI said: "Establishing this JV is a key step in our strategic expansion into the Chinese market. A number of segments in the Chinese irrigation market are showing increasing promise for our solutions and we remain confident that this territory represents a large growth potential for Mottech".

For further information please contact:

 
 MTI Wireless Edge Ltd                 http://www.mtiwe.com/ 
  Dov Feiner, CEO                       +972 3 900 8900 
  Moni Borovitz, Financial Director 
 Nomad and Joint Broker 
  Allenby Capital Limited 
  Nick Naylor 
  Alex Brearley                        +44 20 3328 5656 
 Joint Broker 
  Peterhouse Corporate Finance 
  Limited 
  Lucy Williams 
  Eran Zucker                          +44 20 7469 0930 
 

About MTI Wireless Edge

MTI is engaged in the development, production and marketing of high quality low cost, flat panel antennas for commercial and military applications. Commercial applications include: WiMAX, Wireless Networking, RFID readers &, Broadband Wireless Access. With over 40 years' experience of supplying antennas 100KHz to 90GHz, including directional antennas and Omni directional for outdoor and indoor deployments including Smart Antennas for WiMAX, Wi-Fi, Public Safety, RFID and for Base Stations and Terminals - Utility Market. Military applications include a wide range of broadband, tactical and specialized communications antennas, antenna systems and DF arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.

Via its subsidiary, Mottech Water Solutions Ltd, MTI is also a leading provider of remote control solutions for water and irrigation applications based on Motorola's IRRInet state of the art control, monitoring and communication technologies. Mottech, headquartered in Israel, is the global prime distributor of Motorola for the IRRInet remote control solutions serving its customers worldwide through its subsidiaries and a global network of local distributers and representatives. It utilizes over 25 years of experience in providing its customers with remote control and management systems which ensure constant, reliable and accurate water usage, while reducing operational costs and maintenance costly expenses. Mottech's activities are focused in the market segments of agriculture, water distribution, Municipal and Commercial Landscape and Wastewater and Storm water Reuse.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 19, 2017 02:00 ET (06:00 GMT)

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