Magal Announces a US$3.8 Million Order to Protect an International Airport in East Europe
March 08 2004 - 5:39AM
PR Newswire (US)
Magal Announces a US$3.8 Million Order to Protect an International
Airport in East Europe YAHUD, Israel, March 8
/PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. , today
announced that it has signed a contract for US$3.8 million to
protect an International Airport in East Europe. This comprehensive
turnkey project constitutes an extension of a contract that Magal
has previously signed to protect this airport. Besides different
types of security systems, integrated by MagNet, Magal's
computerized Security Management System (SMS), this project also
includes video and data communication systems. Mr. Jacob Even-Ezra,
Chairman of Magal, stated: "The fact that the customer ordered
Magal systems for the second phase of the project, proves once
again the reliability and efficiency of our systems". 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. Magal also
supplies Video Monitoring Services through Smart Interactive
Systems, Inc., a subsidiary established in the U.S. in June 2001.
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. Israeli-based Magal has
subsidiaries in the U.S., Canada, the U.K., Germany,Romania, Mexico
and an office in China. Revenues for fiscal year 2003 were $59.4
million, with net income of $2.4 million. Magal trades in the U.S.
on the NASDAQ National Market since 1993 and in Israel on the
Tel-Aviv Stock Exchange (TASE) since July 2001, in both under the
symbol MAGS. 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 Report on Form 8-K filed
with the Securities andExchange Commission. Contacts: Magal
Security Systems, Ltd Gelbart Kahana Investor Relations Raya Asher,
CFO Ehud Helft, Kenny Green Tel: +972-3-539-1444 US toll free:
1-866- 704 6710 Fax: +972-3-5366245 International: 972-3-6074717
E-mail: DATASOURCE: Magal Security Systems, Ltd. CONTACT: Raya
Asher, CFO of Magal Security Systems, Ltd, +972-3-539- 1444, or
fax, +972-3-5366245; or Ehud Helft, , or Kenny Green, , both of
Gelbart Kahana Investor Relations, US toll-free, +866-704-6710, or
International, +972-3-6074717
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