Magal Receives US$1.35 Million of Orders in Greece
March 01 2004 - 6:03AM
PR Newswire (US)
Magal Receives US$1.35 Million of Orders in Greece YAHUD, Israel,
March 1 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. today
announced that it has signed two contracts for the amount of
US$1.35 million to protect a Greek military installation and a
power plant in Greece. The Greek Military installation order
includes Magal's recently announced State-of the-Art FORTIS
Integrated Command and Control system. The Power Plant contract
includes security systems such as perimeter intrusion detection
systems, video motion detection systems and other systems, all
controlled by Magal's Security Management System, MagNet. Both
projects are expected to be completed during the year 2004. Mr.
Even-Ezra, Chairman of Magal, said: "We are very glad that Greece
has joined the list of countries that are using Magal's systems and
we have every reason to believe that we will receive more orders
for installations in Greece during the year 2004." 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
US$59.4 million, with net income of US$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 and Exchange Commission. Contacts: Magal
Security Systems, Ltd Gal IR International Raya Asher, CFO Ehud
Helft/Kenny Green Tel: +972-3-539-1444 Tel: 1 866 704 6710 Fax:
972-3-536-6245 Int'l dial: +972 3 607 4717 E-mail: DATASOURCE:
Magal Security Systems, Ltd CONTACT: Raya Asher, CFO of Magal
Security Systems, Ltd, +972-3-539-1444, or Fax: +972-3-536-6245, or
; or Ehud Helft, , or Kenny Green, , or +1-866-704-6710, or
+972-3-607-4717, both of Gal IR International, for Magal Security
Systems, Ltd
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