Magal Receives Orders of Approximately US$45 Million to Protect Critical Infrastructure Facilities
30 January 2008 - 10:00PM
PR Newswire (US)
YAHUD, Israel, January 30 /PRNewswire-FirstCall/ -- Magal Security
Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that
it recently received a series of orders totaling approximately
US$45 million for a turnkey project to protect critical
infrastructure facilities. The turnkey project incorporates fence
perimeter protection systems, access control systems and CCTV
products. Magal's management expects to recognize income from these
orders over the next two years. Mr. Izhar Dekel, CEO of Magal,
commented, "We are very pleased to report these substantial orders,
providing us with a great start to 2008. The orders are an
important milestone in the implementation of our growth strategy,
which emphasizes the provision of turnkey solutions as a major
growth driver. The project, which is for the protection of critical
infrastructure, demonstrates once again our ability and strong
experience in protecting these types of sites." 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. 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. 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 (TASE) 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 Lian Goldstein, CFO Tel:
+972-3-5391444 Fax: +972-3-5366245 E-mail: Investor Relations G.K.
Investor Relations, Ehud Helft/Kenny Green Tel: +1-866-704-6710
E-mail: DATASOURCE: Magal Security Systems Ltd CONTACT: Contacts:
Company, Magal Security Systems, Ltd, Lian Goldstein, CFO, Tel:
+972-3-5391444, Fax: +972-3-5366245, E-mail: ; Investor Relations,
G.K. Investor Relations, Ehud Helft/Kenny Green, Tel:
+1-866-704-6710, E-mail:
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