Business Services Industry
Magal Security Systems, Ltd. announces U.S. $1.8 million order for installation and maintenance of Cargo Pallet Machines
Business Wire, Feb 25, 1997
YAHUD, Israel--(BUSINESS WIRE)--February 25, 1997--Magal Security Systems, Ltd. (NASDAQ:MAGSF), today announced that Rapiscan Security Products, Inc., a co-developer with Magal of a cargo pallet screening machine, has received an approximately U.S. $12 million order from the Israel Ministry of Defense to build 16 machines for 1997 delivery.
Magal will be responsible for the installation and maintenance of these systems which amounts to approximately 15% of the contract price, or U.S. $1.8 million.
Magal Security Systems, Ltd. is engaged in the development, manufacture and marketing of computerized security systems which automatically detect, locate and identify the nature of intrusions. Magal also manufactures and markets systems which automatically detect, locate and identify explosive devices in luggage, packages and other parcels. The company's principal products include a bomb detection system called AISYS, and a video motion detection system called DTS. Magal's products currently are used in more than 40 countries to protect national borders and sensitive facilities from terrorism, theft and other threats.
CONTACT: Mickey Brandt, CFO
MAGAL SECURITY SYSTEMS, LTD.
011-972-3-539-1444
or
Stephen D. Axelrod,CFA
Joel Herskovits
Susan T. Bolen (Media)
WOLFE AXELROD ASSOCIATES
212-370-4500; 212-370-4505 (Fax)
e-mail:76015.440@compuserve.com
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