Magal Announces Contracts of More Than Us$13 Million to Protect Sensitive Sites in Africa and Europe
31 May 2005 - 10:30PM
PR Newswire (US)
Magal Announces Contracts of More Than Us$13 Million to Protect
Sensitive Sites in Africa and Europe YAHUD, Israel, May 31
/PRNewswire-FirstCall/ -- Magal Security Systems Ltd. (NASDAQ NMS:
MAGS; TASE: MAGS), today announced that it has signed two contracts
totaling over US$13 million for supplying comprehensive security
solutions at two sensitive sites, one based in Africa and the other
based in Europe. The installations will commence in the third
quarter of 2005 and are expected to be completed before the end of
2006. These projects incorporate a number of Magal's products,
including the recently introduced DreamBox, an All-in-One CCTV
security solution, which integrates a number of CCTV related
applications, into one box. Mr. Jacob Even-Ezra, Chairman of Magal,
stated: "We are pleased to win these particular contracts with
clients based in Africa and Europe, demonstrating the global demand
for our security solutions. We believe that we will receive
additional follow-on orders for these particular projects. As the
market becomes more educated with regard to the capabilities of
DreamBox, we are seeing a growing interest for this product." About
Magal Security Systems, Ltd. Magal Security Systems Ltd. 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 US-
based subsidiary. Magal'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. Israel-based
Magal has subsidiaries in the US, Canada, the UK, Germany, Romania,
Mexico and an office in China. Magal trades in the US on the NASDAQ
National Market since 1993 and in Israel on the Tel-Aviv Stock
Exchange (TASE) since July 2001, in both under the symbol MAGS.
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 Report on Form 8-K filed
with the Securities and Exchange Commission. Contacts: Magal
Security Systems Ltd Roi Levy, Controller Tel: +972-3-539-1444 Fax:
+972-3-5366245 Gelbart Kahana Investor Relations Ehud Helft, Kenny
Green US toll free: 1-866-704-6710 International: +972-3-6074717
E-mail: DATASOURCE: Magal Security Systems Ltd. CONTACT: Magal
Security Systems Ltd: Roi Levy, Controller, Tel: +972-3-539-1444,
Fax: +972-3-5366245. Gelbart Kahana Investor Relations: Ehud Helft,
Kenny Green, US toll free: +1-866-704-6710, International:
+972-3-6074717, E-mail: ,
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