Magal Notified of an Award of a $21.4 Million Contract for a Comprehensive Security System
YAHUD, Israel, November 22, 2010 /PRNewswire-FirstCall/ -- 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:
- Perimeter Intrusion Detection Systems (PIDS) - a variety of smart barriers and fences, fence mounted detectors, virtual gates, buried and concealed detection systems; - Close Circuit TV (CCTV) - a comprehensive management platform with a leading Intelligent Video Analytics (IVA) and Video Motion Detection (VMD) engine; - Physical Security Information Management (PSIM) - a site management open system that enhances command, control and decision making during both routine operations and crisis situations.
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.
For more information: Magal S3 Eitan Livneh, CEO Assistant: Ms. Elisheva Almog E-mail: [email protected] Tel: +972(3)539-1444 Web: http://www.magal-s3.com CCG Investor Relations Ehud Helft/Kenny Green E-mail: [email protected] Tel: (US) +1(646)201-9246 Int'l dial: +972-3-607-4717
<endt_table>
SOURCE Magal Security Systems Ltd
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article