YAHUD, Israel, February 12 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that it received a US$2.4 million order for a security project to protect the Eilat seaport in Israel. The majority of the project will be executed during 2008.
The order includes a turnkey solution to supply fully integrated security systems based on a variety of the Company's products including its Fence Vibration System, Access Control System, surveillance cameras and CCTV cameras with Intelligent Video Analysis, Digital Recording System and Video Matrix, all integrated and controlled by Magal's advanced management system.
Mr. Izhar Dekel, CEO of Magal, said: "This is the second order that we have received to protect a commercial Israeli seaport in the last 8 months. I am pleased to be able to say that after carrying out a number of projects around the globe to protect commercial seaports, we have acquired a strong ability and experience in supplying comprehensive security solutions for these particularly sensitive 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 on the NASDAQ Global Market and on the Tel-Aviv Stock Exchange (TASE).
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: magalssl@trendline.co.il
Investor Relations
G.K. Investor Relations
Ehud Helft/Kenny Green
Tel: +1-866-704-6710
E-mail: Ehud@gk-biz.com / Kenny@gk-biz.com
Magal Security Systems Ltd
