OSI Systems Facilitates Significant Drug Seizure in Albania
March 08 2018 - 7:30PM
Business Wire
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ:
OSIS) today announced that Albanian Customs and State Police,
facilitated by the OSI Systems’ turnkey scanning program, seized
1,350 pounds of cocaine being smuggled into Albania. The narcotics
were hidden in a false floor of a produce shipment, and were
detected by Rapiscan Eagle® scanning systems operated by the
Company’s S2 Albania subsidiary. Albanian State Police estimate the
value of the seizure to be $220 million.
The Company’s turnkey scanning program has been deployed in
multiple countries and in each case has a proven track record of
benefits, including:
- Significantly reducing the trafficking
of contraband, including narcotics, weapons and currency
- Increasing accuracy in declaration of
imported and exported goods, leading to accurate payment of duties
and significant fiscal benefit to sponsoring governments
- Improving transparency and speed at
customs checkpoints, benefiting international cargo shippers
- Enhancing public safety
The Company deploys image analysts trained through a proprietary
S2 University™ process to analyze scan images and alert law
enforcement to specific anomalies. The programs use the Company’s
proprietary CertScan® system to match scan images to identifying
data such as cargo manifests, vehicle license plates and customs
declarations, so that shippers pay only legally required duties at
customs inspection points.
OSI’s Chief Executive Officer, Deepak Chopra, stated, “The
February 27 seizure in Albania adds to the solid track record of
our integrated services programs in impacting duties evasion and
international trafficking of contraband, in Albania and elsewhere.
We’re proud to support Albanian Customs and State Police in their
continuing efforts to combat such illicit activities.”
About OSI Systems
OSI Systems is a vertically integrated designer and manufacturer
of specialized electronic systems and components for critical
applications in the homeland security, healthcare, defense and
aerospace industries. The Company combines more than 40 years of
electronics engineering and manufacturing experience with offices
and production facilities in more than a dozen countries to
implement a strategy of expansion into selective end product
markets. For more information on OSI Systems or any of its
subsidiary companies, visit www.osi-systems.com. News Filter:
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Related news link: Albania seizes 613 kilos of
Colombia cocaine, holds two
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements relate to OSI Systems’ current
expectations, beliefs, projections and similar expressions
concerning matters that are not historical facts and are not
guarantees of future performance. Forward-looking statements
involve uncertainties, risks, assumptions and contingencies, many
of which are outside OSI Systems’ control that may cause actual
results to differ materially from those described in or implied by
any forward-looking statements. All forward-looking statements are
based on currently available information and speak only as of the
date on which they are made. OSI Systems assumes no obligation to
update any forward-looking statement made in this press release
that becomes untrue because of subsequent events, new information
or otherwise, except to the extent it is required to do so in
connection with its ongoing requirements under Federal securities
laws. For a further discussion of factors that could cause OSI
Systems’ future results to differ materially from any
forward-looking statements, see the section entitled "Risk Factors"
in OSI Systems’ most recently filed Annual Report on Form 10-K and
other risks described therein and in documents subsequently filed
by OSI Systems from time to time with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20180308006451/en/
OSI Systems, Inc.Ajay VashishatVice President, Business
Development310-349-2237avashishat@osi-systems.com
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