Magal wins $4.3m Mexico contract

Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS) today announced that its fully owned Mexican subsidiary, Senstar-Stellar Latin America, SA de CV, signed a $4.3 million contract to supply intrusion detection systems and video surveillance...


Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS) today announced that its fully owned Mexican subsidiary, Senstar-Stellar Latin America, SA de CV, signed a $4.3 million contract to supply intrusion detection systems and video surveillance equipment for sensitive facilities in Mexico. The company did not disclose the name of the customer.

Magal said the order included, among other systems, the MTC-1500 day and night surveillance system and the DreamBox, all-in-one CCTV security solution which integrates a number of CCTV related applications into one box. The contract is expected to be supplied by the end of this year.

Magal president and CEO Izhar Dekel said, "This order demonstrates once again customer interest and appreciation for Magal's systems I believe that we will receive additional orders from this customer in the future.

Dekel was president of Magal until his appointment as CEO as well in early September. He replaced Jacob Even-Ezra, who has been the CEO of Magal since its inception, and who will continue to serve as chairman. Former General Security Services chief and Cellcom chairman Jacob Perry, who has served as a director of Magal since 2006, was appointed deputy chairman.