NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — MTI Instruments division, a manufacturer of precision tools and testing equipment for electronics, aviation, automotive, power and other industries, today announced a $1.4 million order with a global industrial manufacturer. The contract also includes a 14-year ongoing maintenance and support component representing another high-value contract win with recurring revenue.
This repeat order stems from a multi-year customer relationship and is for MTI’s Block Gage measurement device that allows this top-tier global industrial manufacturer to perfectly machine ball pistons that require extremely precise accuracy for high power transmissions. MTI uses capacitance technology for micron-level accuracy measurement of distance and fit. The customer chose MTI Instruments based on its trustworthiness, dependability, and historical track record, providing the comfort they require to guarantee the high reliability and efficiency of the products they manufacture and repair.
Moshe Binyamin, President and CEO of MTI Instruments, stated, “This record order highlights our commitment to building enterprise value through deepening our understanding of our customers’ needs and providing them with on-going support through multi-year service contracts. We are extremely pleased to announce this significant order as it showcases why top-tier customers respect and trust our subject matter expertise.” Moshe added: “The relationship began in 2008 with the first version of our Block Gage measurement tool, followed by our second-generation product in 2013, and currently with our next generation capacitance-based technology. Furthermore, this award exemplifies our shift to become a trusted advisor to our customers by providing high precision measurement solutions with ongoing support.”
Ken Ameika, Global Sales Director of MTI Instruments, added, “Our customers demand high reliability of their critical tools and we have transformed the relationship with this global customer from a transactional equipment provider to a long-standing multi-year partnership.”
About MTI Instruments
Based in Albany, New York, MTI Instruments, Inc., a wholly-owned subsidiary of Soluna Holdings Inc., is a global leader in non-contact measurement tools and condition-based monitoring systems with a growing customer base spanning more than 60 countries. MTI Instruments has a rich history in innovation for developing and manufacturing sensors and systems to help clients secure the highest level of accurate measurements in order to drive innovation, identify efficiencies and increase competitiveness. MTI Instruments provides comprehensive solutions to better address challenges and applications within numerous industries, including industrial manufacturing, consumer electronics, semiconductor, solar, commercial and military aviation, automotive, transportation and R&D.