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.
SOURCE Magal Security Systems Ltd