MTI Wireless Edge Limited Major expansion into the Chinese market (3826I)
19 June 2017 - 4:00PM
UK Regulatory
TIDMMWE
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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