Rochester,NY 6/29/2009 10:49:28 PM
MAGS,TEXT-Magal awarded $8.5 million in contracts
Magal Security Systems Ltd
Morning Movers - MAGS - TEXT-Magal awarded $8.5 million in contracts - Sourced WhisperFromWallStreet.com
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Magal Security Systems Ltd,MAGS
After Hours: 4.70 Up 0.51 (12.17%) 10:51am ET
Magal Security Systems Ltd. (NASDAQ GMS: MAGS, TASE: MAGS) announced today that during May 2009, it was awarded a total of approximately $8.5 million in purchase orders to protect two airports and several nuclear power stations in South East Asia, to reconstruct a border in Israel and to extend an existing airport project in Eastern Europe.
Most of the orders are expected to be completed during 2009. The first turnkey project is the extension of an airport Perimeter Intrusion Detection System (PIDS) in Eastern Europe for $1.6 million and it includes infrastructure, a Taut Wire barrier as well as Command and Control System. The second project is the reconstruction of a border protection solution in Israel for $4.6 million.
The third order is for various nuclear power station sites in South East Asia, and will incorporate a Volumetric Intrusion Detection System for $1.3 million. The fourth order is for the protection of two airports in South East Asia, which will incorporate a variety of intrusion detection solutions including Taut Wire and Vibration Sensors for $1.0 million.
About
Magal Security Systems, Ltd., together with its subsidiaries, engages in the development, manufacture, marketing, and sale of computerized security systems to detect and deter human intrusion for civilian and military markets. It offers perimeter security systems, including taut wire perimeter intrusion detection systems, vibration detection systems, field disturbance sensors, and video analytics and video motion detection systems, as well as MTC-1500E, an integrated thermal/daylight camera, and MSS-1500, a high-definition surveillance system for use by surveillance and security forces. The company also provides security management and control systems comprising MagNet, a security management system that integrates the management, control, and display of various security systems into a single, real-time database; and Fortis, an integrated command and control system, which supports real-time decision making, and command and control. In addition, Magal Security Systems offers pipeline security systems consisting of PipeGuard that provides a solution for securing buried assets and infrastructure, including oil and gas pipelines and fiber optic cables, as well as provides personal emergency location systems that enables individuals moving throughout a facility to indicate their exact location in a crisis situation through a transmitter that is carried by them. Its products are used to protect sensitive facilities, including national borders, military bases, power plant installations, airports, postal facilities, prisons, industrial locations, and municipalities from terrorism, theft, and other threats.
Last Trade: 4.65
Day's Range: 4.52 - 4.95
52wk Range: 3.79 - 9.30
Volume: 23,406
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