YAHUD, Israel , January 7 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS)( TASE: MAGS), today announced that it received a contract for a security project to protect a major seaport in Africa valued at approximately US$1.25 million.
This project includes a variety of the Company's products including its Fence Vibration System, Access Control System, CCTV cameras with Intelligent Video Analysis and the MTC-1500 Thermal Day & Night Surveillance System, all integrated and controlled by Magal's advanced 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 incorporated into its built-in security management system.
Mr. Izhar Dekel , CEO of Magal, said: "This is the second order received in recent months to protect a commercial seaport. This order, together with the US$0.8 million order received in June 2007 to protect the Ashdod seaport in Israel , strengthens once again our position as a leading provider of advanced security solutions to meet the demanding requirements of such key locations."
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.
SOURCE Magal Security Systems Ltd