Magna BSP Ltd. has won a NIS 3 million Chief Scientist grant, which will finance 40% of the development cost of the company's plane collision prevention system. The company will finance the other 60%.
Magna BSP developed automatic detection and target analysis products for the military and defense industries, perimeter defense systems, and products for airport safety, including Safety Airport Foreign Object and Debris Detection (SAFD) and Runway Safety Surveillance Automatic Detection System to spot hazardous detritus on runways.
The company has won a number of contracts lately, including an NIS 8 million defense contract, a perimeter defense systems contract for Japanese nuclear reactors worth several hundred thousand shekels, and a NIS 4 million contract for its airport safety systems from Ben Gurion Airport.
Published by Globes [online], Israel business news - www.globes-online.com - on July 8, 2010
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