Magal Expands Operations in Brazil Through New Strategic Partnership
13 Juni 2007 - 2:01PM
PR Newswire (US)
Partnership Will Provide Perimeter Solutions, Technical Support and
Service Center Within Brazil YAHUD, Israel, June 13
/PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM:
MAGS; TASE: MAGS), today announced a new strategic partnership in
Brazil. The new strategic partnership, Senstar-Stellar Sistemas de
Seguranca Ltda., will provide local consultants and integrators
with complete perimeter solutions, technical support and a local
service center. The new Brazil based operations, located in Sao
Paulo, will be headed by Mr. Eduardo Fazzio, formerly the Magal
Group's Brazilian master dealer. "We are very pleased to announce
the formation of this new strategic partnership in Brazil," said
Izhar Dekel, CEO of Magal. "This partnership will enable us to
further expand our operations to one of our key strategic markets,
South America, and, we believe, will serve as a major growth driver
in years to come. This partnership will provide us with a local
base within the South American free trade region, potentially
enabling us to manufacture certain of our products there in the
future." 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 has an office in China. Magal trades under the symbol
MAGS in the U.S. on the Nasdaq Global Market, and in Israel on the
Tel-Aviv Stock Exchange. 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 Raya
Asher, 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, Raya
Asher, 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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