MTS Announces $17 Million in New Contract Awards
MTS announced two new contract awards totaling $17 million on October 1. The first contract award is with a multi-national engineering and manufacturing conglomerate. MTS will provide a first-of-a-kind fault ride through tester for the customer’s offshore wind business. The product will help to maintain the stability of power generation for large offshore wind turbines. The second contract is with an industry-leading commercial vehicle manufacturer MTS will design a unique simulator to help the company evaluate frame, chassis, and suspension performance characteristics. This highly economical system should help develop faster innovations for electric commercial vehicles.
Sonal alerted its subscribers about this news on October 1 at 4:05 pm. The last trade had taken place at 4:00 pm for $19.29. MTS traded higher following the market open the next day, and the gains continued over the next five trading days. MTS closed at $22.62 on October 8 for a gain of 17.3%.
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