YEHUD, Israel, October 3, 2018 /PRNewswire/ --
Magal Security Systems, Ltd. (NASDAQ:
MAGS) announced that it has been awarded, through one of the
subsidiaries, an $7.7 million
extension to an ongoing project providing integrated security
solutions for critical energy infrastructures protection in the
Americas. Most of this order is scheduled to be delivered during
the remainder of 2018.
Dror Sharon, CEO of
Magal, commented: "This significant follow-on order
demonstrates the satisfaction that our client has with the initial
installation of our perimeter security system, and is another solid
reference for Magal. Magal's many years of experience in perimeter
security, its strong relationships in the region as well as our
integration capabilities, continue to bring us new orders and
increased business. Our backlog remains at very high levels and we
expect this to be reflected in our 2018 revenue growth."
About Magal
Magal is a leading international provider of solutions and
products for physical and video security solutions, as well as site
management. Over the past 45 years, Magal has delivered its
products as well as tailor-made security solutions and turnkey
projects to hundreds of satisfied customers in over 80 countries -
under some of the most challenging conditions.
Magal offers comprehensive integrated solutions for critical
sites, managed by Fortis4G - our 4th generation, cutting-edge
physical security information management system (PSIM). The
solutions leverage our broad portfolio of home-grown PIDS
(Perimeter Intrusion Detection Systems), Symphony - our advanced
VMS (Video Management Software) with native IVA (Intelligent Video
Analytics) security solutions.
Forward Looking Statements
Certain statements made herein that are not historical are
forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. The words "estimate",
"project", "intend", "expect", "believe" and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements involve known and unknown 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 Magal's reports
filed from time to time with the Securities and Exchange
Commission, including its Annual Report on Form 20-F and Current
Reports on Form 6-K.
Web: http://www.magalsecurity.com
For more information:
Magal Security Systems Ltd.
Dror Sharon, CEO
Tel: +972-3-539-1421
E-mail: dianeh@magal-s3.com
GK Investor Relations
Ehud Helft / Gavriel Frohwein
Tel: (US) +1-646-688-3559
E-mail: magal@gkir.com
SOURCE Magal Security Systems, Ltd.