Organic growth drivers
· Organic growth is, and continues to be, a prime driver of MTI’s success, reflecting the underlying strength of the business.
· The main drivers of organic growth are:
v Substantial demand potential from mobile operators to progress their 5G network upgrades. With unique Flat and Parabolic Antennas, alongside a Dual Band solution, MTI is ideally placed to benefit significantly as a leading supplier of 5G backhaul antennas.
v Global water usage is outpacing the growth in the world’s population, at the same time as the impacts of climate change are making fresh water supply even less predictable and reliable. Thus demand for water management systems is rapidly increasing.
v Increased defense budget spending. Israel is a natural incubator for new defense technologies and MTI has substantial defense connections. MTI also has a strong presence in India, which MTI’s customers are using to conform to India’s Defense Offset Guidelines which dictate, in general, that 30% of any defense contract must be completed in India.
· The combination of these factors ensures that MTI is ideally positioned to grow going forward.
MTI is pleased to announce that its antenna division has received blanket orders for 5G backhaul antenna from two key customers. The combined orders are worth approximately USD $0.85 million and are to be supplied in 2022
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