MTI Wireless Edge subsidiary secures $1.1m order from existing customer

(Sharecast News) - Communication and radio frequency solutions firm MTI Wireless Edge said on Monday that its PSK Wind Technologies subsidiary had secured a new order from an existing customer. MTI Wireless said the order was for the construction and delivery of integrated shelters for a defence application, worth approximately $1.1m to be delivered within the next ten months.

Chief executive Moni Borovitz said: "This is the third significant contract announcement for PSK this year, reaffirming its recovery and the high customer demand for its products. As announced last month, PSK has a strong order backlog and pipeline of upcoming tenders, putting PSK in a good position to achieve sustained growth over the medium to long term."

As of 0950 BST, MTI shares were up 3.44% at 49.65p.





Reporting by Iain Gilbert at Sharecast.com