YAHUD, Israel , November 10 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced that its Board of Directors has appointed Barry Abraham Stiefel , a U.K. resident as a director of the Company. Mr. Stiefel will serve as a director until the next Annual General Meeting of Shareholders of the Company.
Mr. Stiefel, 59, has since 2001 served as a Consultant in a variety of companies including Premedia Limited and its subsidiaries. From 1990 until 2001 Mr. Stiefel was the Founder and CEO of Meridian VAT Reclaim Group. Between 1985 and 1990 Mr. Stiefel served as consultant in the field of trade finance. Mr. Stiefel served as Finance Director of Fisher Brothers Lumber Company Limited, a South African company from 1981 to 1985. Mr. Stiefel has B.Sc in Mathematics and Chemistry and B.Acct., both from the University of Witwatersrand in South Africa .. Mr. Stiefel is a chartered accountant in South Africa , and is registered as an auditor (not in public practice) in the U.K. Mr. Stiefel has had an association with the Group since 1986, when he was a Director of one of Magal's UK subsidiaries.
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 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.
SOURCE Magal Security Systems Ltd