I also saw it in another article on google that said the fence must now be approved by the members of the govenmnet to go ahead... ie appropriation bills approved, as this article said the cost was 270 milliom dollars three years ago and was not built then due to the cost, but that the leaders in Israel agreed to build it Wendesday in talks with Egypt if the assembly approves. Im still wondereding if the 45 million dollar contract was with a foriegn country or Isreal. That is one problem with this company and with every company Ive invested in that country. On the conference calls the information is much more vague than with American companies. However if Magal does buld the fence that will in the end be a great plus for the stock price. Its very hard right now for small companies to make large moves on good news compared to a few years ago. And when the small companies do move it is very fast and gets to a level and stops. No one wants to get caught long anymore because the trading volume has all gone to the big stocks and options on the big stocks. Good luck everyone. Hopefully they will get the contract and promote its value on a conference call. The conference call on audc another ineepensive Israeli stock that I listened to the other day was very good news in terms of product growth, but even though there were quite a few questions, managment seemed to out of its way to downplay the great growth prospects ahead for their media gateways. No enthisiam or excitement, as if they didnt want anyone to know how good they were doing. I bet we dont even find out what the margins are on this new contract. Hopefully they will say they are bidding on more contracts of the same size at Magal and hope to win them also. We know hardly anything about the new company they bought or what impact that will have other than to say it was a good purchase.Hard to quantify that. We wont attract any chart buyers until this gets over ten, but you may be right, maybe Magal has got some traction and will pull in more large orders. After two or three it could be in up around 20. In this market you need more than one contract to get any Wall Street backing and without that small companies just sit, until some chart programs kick in and then it gets nuts. there coudl be a week where Magal goes up 40 or 50 percent on large volume. Lets hope they perform now as well as possible in landing more contracts.
Israel will build a security fence to separate it from Egypt.
The decision to close open sections of the border in areas at risk for infiltration was made Wednesday at a meeting attended by Prime Minister Ehud Olmert, Defense Minister Ehud Barak, Foreign Minister Tzipi Livni, Cabinet members, and heads of the defense and security services.
The fence is expected to take several years to complete and may force budget cuts of some $200 million.
Construction will start in northern Nitzana and southern Eilat, which are considered vulnerable. Monitoring of other areas with troops and aerial surveillance will be increased.
The impetus for the new security measures was the Jan. 23 attack on the border between the Gaza Strip and Egypt. Hamas terrorists blew up sections of the border fence, resulting in nearly two weeks of free passage between the two areas.
Israeli officials believe arms, drugs and other contraband likely passed from Egypt to Gaza, and terrorists to the Sinai, during the free-for-all at the border, which was sealed on Sunday.