YAHUD, Israel - Magal Security Systems, Ltd. (NASDAQ GM: MAGS) announced today that it has received a US$2.3 million order for the support and maintenance of a major homeland security system in Israel. The two year contract is for services related to an existing large perimeter security system.
Eitan Livneh, President and CEO of Magal S3, commented: "Magal's client relationships and continued commitment to customer satisfaction enables us to sign long-term contracts and gain ongoing business with our customer base.
This contract was achieved following another contract with an existing customer in Israel, to expand the security system of their site. Follow-on contracts like these allow us to plan forward and optimize our operations, which results in a positive impact on our financial results."
Mr. Livneh added: "These recent contracts in Israel demonstrate that the protection of strategic homeland security assets continues to be high on the agenda in this region and investment in this area remains stable."
About Magal S3:
Magal S3 is a leading international provider of security, safety and site management solutions and products. Over the past 40 years, Magal S3 has delivered tailor-made solutions to hundreds of satisfied customers in over 80 countries. Magal S3 offers a broad portfolio of unique products used to protect sensitive installations in some of the world's most demanding locations and harshest climates. This portfolio covers the following three categories:
o Perimeter Intrusion Detection Systems (PIDS) - a variety of smart barriers and fences, fence mounted detectors, virtual gates, buried and concealed detection systems;
o Close Circuit TV (CCTV) - a comprehensive management platform with a leading Intelligent Video Analytics (IVA) and Video Motion Detection (VMD) engine;
o Physical Security Information Management (PSIM) - a proprietary site management system that enhances command, control and decision making during both routine operations and crisis situations.
For more information:
Magal S3 Hagai Katz, SVP Marketing & BD
Assistant: Ms. Elisheva Almog
CCG Investor Relations
Ehud Helft/Kenny Green
Tel: (US) +1(646)201-9246
Int'l dial: +972-3-607-4717
Source: Magal Security Systems Ltd