Computerized security system developer Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS) has received a an order of approximately $1 million to supply a security and protection system for a major United States international border crossing.
Magal said that the border crossing is used by many people and goods transferring between the United States and the neighboring country. Magal's protection system will include an array of mobile and thermal cameras for border perimeter protection, as well as a people tracking and inspection matrix based on RFID technology, access and gate control, with wireless information broadcast for personnel and vehicles, managed by Magal’s FORTIS command & control module.
Magal's US subsidiary received the order, which is expected to be delivered during 2009.
Magal CEO Izhar Dekel said, "Given the US Department of Homeland Security’s stringent demands and the highest standards required for the protection of international borders, Magal’s technology is particularly suitable and has the strongest capabilities to provide this solution." Dekel added that he hoped the deal leads to other US Homeland Security orders.
Yehud-based Magal's products are currently utilized in more than 70 countries worldwide for protection of national borders, airports, correctional facilities, nuclear power stations and other sensitive facilities against terrorism, theft and other threats. In December, the company announced that it had signed several deals, worth a combined $5 million, to protect Eastern European utilities.
Shares in Magal closed on Nasdaq yesterday at $5.74, giving a market cap of $60 million. At mid-day, Magal's shares are up 3.1% in Tel Aviv Stock Exchange (TASE) trading.
Published by Globes [online], Israel business news - www.globes-online.com - on January 21, 2009
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