MTI Wireless secures three-year service contract with major Canadian city
By Iain Gilbert
Date: Tuesday 08 Jun 2021
(Sharecast News) - Technology outfit MTI Wireless said on Tuesday that its wireless irrigation control solutions subsidiary, Mottech Water Solutions, had secured a three-year service contract with a major Canadian city estimated to be worth approximately CAD $300,000 (£175,590).
MTI stated that in February 2021, it had opened a new office in Alberta, Canada following the retirement of its local reseller, who covered the Canadian market for Mottech.
The AIM-listed group highlighted that this particular Canadian city, which has one of the "largest municipal water irrigations systems in the world", was previously a client through the reseller but the new contract was now directly with Mottech.
Chief executive Moni Borovitz said: "Canada has historically been an important and profitable market for Mottech and, with the opening of our office, it has the potential to be more valuable to the group.
"Our newly set up Canadian business has started well with recent equipment orders and this service contract is an important part of our strategy to increase recurring revenues from service and maintenance and be closer to our end customers. We believe we will see more business opportunities and increased revenue from equipment sales."
As of 0905 BST, MTI Wireless shares were up 1.31% at 64.84p.
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