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Magal Security Systems (MAGS) Message Board

  • bengrahamvalueinvestor bengrahamvalueinvestor Oct 4, 2007 2:08 AM Flag

    $3 billion border security. 95-1 vote

    Senate backs $3 billion border security add-on to Defense billBy Megan Scully CongressDaily October 3, 2007 The Senate voted 95-1 Wednesday to add $3 billion in emergency spending to the fiscal 2008 Defense appropriations bill to enhance border security efforts and crack down on illegal immigrants.
    The amendment, sponsored by Sen. Lindsey Graham, R-S.C., includes funding to hire thousands of border security agents, build hundreds of miles of fences and other barriers and buy surveillance equipment such as unmanned aerial vehicles to monitor the border.
    "The goal of this amendment is to prove to the public that Congress is very serious about securing our border," Graham said on the floor.

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    • Thank you. Now all we need is some movement. Back to $10.00 would be great even though I'd still be on the negative side. Bought at the wrong time I guess.

    • That's great, but where does MAGS fit in to the picture? We continue to see relatively small orders announced, but nothing ever major.

      • 1 Reply to lafondmayflower
      • US border contracts are often kept confidential by DHS. In the past Magal has secured orders for perimeter detection equipment for the US border. The US has been a dominant customer for Magal in the last decade (less in the last few years--Indecision and lack of funds appropriated) YET very few contracts have ever been announced--FOR ANYONE. ASEI recently had a nearly $50 million order for the US border (I believe--not confirmed) that was not announced by anyone. Certain contracts are kept confidential.

        Magal will get contracts at the US borders. This news of funds helps that become a reality sooner rather than later...

 
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