MTI Wireless Edge Ltd., a market leader in the manufacture of flat panel antennas for fixed wireless broadband and a wireless irrigation solution provider, has told DirectorsTalk that its subsidiary, Mottech Water Solutions Ltd., has won a contract for approximately Euro 0.5 million for a water management and irrigation solution. The contract is with a private company and relates to a transport infrastructure project in Southern Europe and is expected to be finished by the end of 2016. Following completion of this phase of the contract there may be the potential for further revenue in 2017.
MTI acquired Mottech, a wireless irrigation solutions provider, in June 2015. During 2015 Mottech contributed USD 6.2 million of revenues to MTI.
Dov Feiner, CEO of MTI commented: “We are very happy with Mottech’s performance since we acquired the company and see this contract win as another milestone in Mottech’s strategy of getting involved in large projects. This win is for two phases out of three planned in the overall project and if all goes well we should receive a follow on order for approximately Euro 0.3 million in 2017”.
