MTI Wireless Edge Secures Significant Mottech Contract in Italy
Why we think this is good
This contract win is a positive development for MTI Wireless Edge, as it demonstrates the company's strong position in the water control and management market. The contract is significant in size, worth approximately €1.0 million, and represents the first phase of a larger project with a long-term customer. The company's experience and established relationship with the customer suggest a lower execution risk, and the potential for further revenue opportunities in the future. While the RNS lacks some financial details, the overall impact on the company's earnings is likely to be positive in the short term.
Key Points
- Mottech Water Solutions Ltd, a subsidiary of MTI Wireless Edge, has secured a significant contract worth approximately €1.0 million from a long-term customer in Italy
- The contract is the first phase of a larger project and involves the renewal and expansion of an irrigation system originally installed over 15 years ago
- The objective is to provide efficient water distribution across an expanded area of agricultural land supporting the accurate irrigation of citrus fruits
- Once the first phase is successfully completed, the company expects the contract will be extended to cover the next phase
Summary
MTI Wireless Edge Ltd (AIM: MWE) has announced that its subsidiary Mottech Water Solutions Ltd has secured a significant contract worth approximately €1.0 million from a long-term customer in Italy. The contract is the first phase of a larger project and involves the renewal and expansion of an irrigation system originally installed over 15 years ago. The objective is to provide efficient water distribution across an expanded area of agricultural land supporting the accurate irrigation of citrus fruits. Once the first phase is successfully completed, the company expects the contract will be extended to cover the next phase.