Magal Notified of an Award of a $21.4 Million Contract for a Comprehensive Security System
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YAHUD, Israel - Magal Security Systems, Ltd. (NASDAQ: MAGS, TASE: MAGS) announced today that it received a formal notification from the Port Authority of an African country that it has won a tender to secure the main seaport of the country. The total value of the project is estimated to be $21.4 million, with a targeted completion date within two years after receipt of the formal order.
No contract has yet been signed; the Company will provide an update upon receipt of a signed contract.
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 site management open system that enhances command, control and decision making during both routine operations and crisis situations.
For more information:
Magal S3
Eitan Livneh, CEO
Assistant: Ms. Elisheva Almog
E-mail: ElishevaA@magal-s3.com
Tel: +972(3)539-1444
Web: www.magal-s3.com
