YAHUD, Israel, January 31 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that it has received an approximately US$6 million order for a turnkey project to protect several military bases in Israel. As part of the project, Magal will implement its Taut Wire Intrusion Detection Systems and its FORTIS Integrated Command & Control system.
Magal will serve as the subcontractor for the perimeter intrusion detection systems and the work is expected to be completed before the end of 2007.
Izhar Dekel, CEO of Magal, said: "We are very pleased with this contract which attests to our position as the leading provider of perimeter security solutions and our ability to perform in a high intrusion risk environment. This win combines two of our product lines, legacy and new, further supporting our strategic decision to expand our security offerings."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing and marketing of computerized security systems, which automatically detect, locate and identify the nature of unauthorized intrusions. Magal also supplies video monitoring services through Smart Interactive Systems, Inc., a subsidiary in the U.S. The Company's products are currently used in more than 70 countries worldwide to protect national borders, airports, correctional facilities, nuclear power stations and other sensitive facilities from terrorism, theft and other threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the U.K., Germany, Romania, Mexico and an office in China. Magal trades under the symbol MAGS in the U.S. on the NASDAQ Global Market since 1993 and in Israel on the Tel-Aviv Stock Exchange since July 2001.
This press release contains forward-looking statements, which are subject to risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission.
Contacts:
Company
Magal Security Systems, Ltd
Raya Asher, CFO
Tel: +972-3-5391444
Fax: +972-3-5366245
E-mail:
