Magal Security Systems Receives $3.0 Million in New Orders for Projects in Israel
08 März 2007 - 1:00PM
PR Newswire (US)
Projects Cover Broad Spectrum of the Company's Products Securing
Both Civilian and Government Sites YAHUD, Israel, March 8
/PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM:
MAGS; TASE: MAGS), today announced that it recently received new
orders from Israeli customers amounting to approximately US$3.0
million. The new orders include two turnkey projects to secure
civilian and government sites in Israel amounting to $3.0 million.
The orders cover a broad spectrum of the Company's products and
security platforms and include one of the Company's latest
products, the state-of-the-art Dreambox intelligent video, audio
and sensors management platform. The orders are expected to be
supplied during 2007. The first order is for a turnkey project to
supply an intrusion-detection and video-surveillance systems to
protect a sensitive site in Israel. As part of the project, Magal
will implement its Vibration Intrusion Detection System and its
Magnet Command & Control System. The second order is an
extension of an existing order for a total of over $1 million for
our advanced DreamBox video content analysis solution. Mr. Izhar
Dekel, CEO of Magal, said: "These new comprehensive turnkey
projects, to both the government and civilian space, further
validate our ability to migrate our diverse high-end security
platforms to the broad civilian market. These two new orders, which
include a follow on order from an existing customer, further
validate our leadership position in this market. We see substantial
potential in the evolving high-end civilian security market to both
broaden our customer base and increase our offerings to current
customers." 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.
Magal also supplies video monitoring services through Smart
Interactive Systems, Inc., a subsidiary in the U.S. 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. Israeli-based Magal has
subsidiaries in the U.S., Canada, the U.K., Germany, Romania,
Mexico and an office in China. 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 Investor Relations Magal Security Systems, Ltd G.K.
Investor Relations Raya Asher, CFO Ehud Helft/Kenny Green Tel:
+972-3-5391444 Tel: +1-866-704-6710 Fax: +972-3-5366245 E-mail:
E-mail: DATASOURCE: Magal Security Systems Ltd CONTACT: Contacts:
Company Investor Relations, Magal Security Systems, Ltd , Raya
Asher, CFO, Tel: +972-3-5391444, Fax: +972-3-5366245, E-mail: ;
G.K. Investor Relations, Ehud Helft/Kenny Green, Tel:
+1-866-704-6710, E-mail:
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