YEHUD, Israel, Oct. 31, 2019 /PRNewswire/ -- Magal
Security Systems, Ltd. (NASDAQ: MAGS) announced
that it has won contracts amounting to $2.4
million, supporting the critical perimeter security
infrastructure of airports. Most of the awards were for two major
international airports, but also includes products and services for
several other airports globally. The majority of orders were for
the maintenance related to previously purchased products and
services from Magal.
Mr. Dror Sharon, CEO of
Magal, commented: "Magal has a long history of protecting
critical infrastructure, and over the years our systems have
secured the perimeters of some of the world's busiest airports.
These new contracts are a testament to our ability to execute,
providing highly reliable products and quality services to our
customers. These orders are also a demonstration of how our large
existing customer base is a potential source of further orders down
the road. The majority of these new orders were for ongoing
perimeter security maintenance. For Magal, this represents a stable
and potentially long-term revenue stream, and is in line with our
strategy to increase the portion of our revenues which are
recurring. At the same time, in parallel to increasing the
recurring revenue, we look to expand our sales to new customers in
core and growth verticals. Airport protection remains a key
long-term growth vertical for Magal and we look forward to
continuing the expansion and deepening the penetration of our
customer base, through both our core and growth verticals."
About Magal
Magal is a leading international provider of solutions and
products for physical and cyber security, as well as safety and
site management. Since 1969, Magal has delivered tailor-made
security solutions and turnkey projects to hundreds of satisfied
customers in over 100 countries – under some of the most
challenging conditions.
For more information:
Magal Security
Systems Ltd.
|
GK Investor &
Public Relations
|
Dror Sharon,
CEO
|
Gavriel
Frohwein
|
Tel: +972 3 539
1421
|
Tel: (US)
+1-646-688-3559
|
Assistant: Ms. Diane
Hill
|
E-mail:
magal@gkir.com
|
E-mail:
dianeh@magal-s3.com
|
|
View original
content:http://www.prnewswire.com/news-releases/magal-recieves-2-4-million-in-perimeter-security-contracts-for-international-airports-300949076.html
SOURCE Magal Security Systems Ltd