Security co Magna BSP gets first order for Japanese reactors

The company's passive electro-optic radar system detects breaches in perimeters.

Maayan Ventures Ltd. (TASE:MAYN) portfolio company Magna BSP Ltd. has received its first order for its passive electro-optic radar system for perimeter security from Japan to protect nuclear reactors. The order is worth several hundred thousand shekels. The company is in negotiations for additional orders.

Magna BSP recently completed a successful test of the radar system with the Polish Air Force, and is in sales talks for the systems in Poland. The system has also been tested by the IDF, the Israel Airports Authority at Ben Gurion Airport, and by Ashdod Port Company Ltd.. The company is also developing flight safety and mobile radar systems.

Based at Maayan's Dimona incubator, Rotem Industries Ltd., Magna BSP was founded in 2001. Investors include Maayan, which owns 9.4% of the company directly and through Rotem, Aeronautics Defense Systems Ltd., and private investors. The company has also obtained grants from the Office of the Chief Scientist. Magna BSP is run by chairman Joseph Ran and CEO Haim Sibony.

Published by Globes [online], Israel business news - - on April 27, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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