Magal Receives $4.2 Million in Orders
YAHUD, Israel, June 27, 2013
YAHUD, Israel, June 27, 2013 /PRNewswire/ --
Magal Security Systems, Ltd. (NASDAQ GM: MAGS) announced today that it
recently received a number of orders from Asia and the Americas amounting to
A total amounting to $1.7 million of these orders originated from India for
securing the perimeters, entrances and the inner sides of two private
industrial sites. The order includes surveillance cameras, gate controls and
Fortis^4G - Magal's latest version of PSIM. India is a market in which Magal
recently established its local presence and these orders represent the initial
fruits of that effort.
Additionally, Magal received an order, amounting to $0.9 million, to maintain
the security solutions for an important Latin American bank, in another
strategically important region for Magal.
The remainder of the orders are from existing customers in North America -
mostly correctional facilities - for large scale upgrades of their perimeter
and communications equipment.
Eitan Livneh, President and CEO of Magal S^3, commented: "We are seeing
increased orders from areas where we have established a strong local presence.
The orders from India are the early fruits of our new joint venture that we
established last year and demonstrate that our strategy in the region is
becoming increasingly successful. We are also pleased to see increasing orders
from North America, where we are seeing signs of recovery in our markets."
About Magal S^3
Magal S3 is a leading international provider of solutions and products for
physical and cyber security, safety and site management. Over the past 42
years, Magal S^3 has delivered tailor-made solutions and turnkey projects to
hundreds of satisfied customers in over 80 countries in some of the world's
most demanding locations.
Magal S^3 offers comprehensive integrated solutions for critical sites,
managed by Fortis^4G - our 4^th generation cutting edge Physical Security
Information Management system (PSIM). The solutions leverage our broad
portfolio of homegrown Perimeter Intrusion Detection Systems (PIDS), advanced
outdoors CCTV / IVA technology and Cyber Security solutions.
For more information:
SOURCE Magal Security Systems Ltd
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