Magal Receives an Order of Approximately US$ 4 Million to Protect Gas Pressure Stations
31 Juli 2007 - 12:42PM
PR Newswire (US)
YAHUD, Israel, July 31 /PRNewswire-FirstCall/ -- Magal Security
Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that
it recently received an order for a turnkey project of
approximately US$4 million from one of the leading oil and gas
companies in the world, which its headquarters is located in
Europe, to protect two gas pressure stations. This turnkey project
includes the company's DTR-2000 Taut Wire Intrusion Detection
System with a built-in camera and illuminator, CCTV cameras and the
MTC-1500 Thermal Day & Night Surveillance System, all
integrated and controlled by Magal's DreamBox system. DreamBox is a
state-of-the-art embedded hardware and software product which in
this project integrates intelligent video analysis, digital video
recording and a video matrix switcher under its built-in security
management system. Mr. Izhar Dekel, CEO of Magal, said: "This is
the second order received in 2007 to protect oil and gas facilities
and we see big potential in this market. This order, together with
the US$2.0 million order received in February, strengthens our
position and broadens our experience as providers of turnkey
security solutions to the oil and gas facilities' market." 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 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: +1-646-201-9246 Fax:
+972-3-5366245 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: +1-646-201-9246, Fax: +972-3-5366245, E-mail:
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