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Magal Security Systems (MAGS) Message Board

  • dontforgetlogin dontforgetlogin Mar 9, 1999 10:50 AM Flag

    Snifex

    The $240,000 (Snifex) deal, which was announced
    Wednesday, brings into Magal's stable of security products a
    unique technology which detects trace amounts of drugs
    or explosives without direct contact with the
    object.

    Raya Asher, CFO at Magal, said the purchase of Snifex
    adds a complementary product to Magal's existing
    product line.

    "We already have good relationships
    with security personnel at prisons, airports, and
    government offices and believe they will want a system that
    can detect drugs or explosives," she said.

    In
    addition, she added: "The price was good. It was not a big
    investment to risk and we saw the potential." The two
    founders of Snifex hold the rest of the shares.

    http://www.jpost.com/com/Archive/08.Jan.1999/Business/Article-2.html

    WH

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    • Did anyone see last nites Dateline report on NBC
      regarding US Customs strip searches of woman at airports?
      Apparently in their quest to stop illegal drugs from
      entering this country , US Customs agents are going to
      extreme lengths to catch drug smugglers. So desparate
      they are, their strip searches have produced an outcry
      and lawsuits will be forth coming. Drug smugglers
      swallow ballons filled with drugs for sale here. This
      pracatice is growing and is very lucative.
      Snifex's
      product will be the winner here provided their technology
      is not harmful and if they and Magal can market and
      promote the technology effectively.
      Magal is a company
      with state of the art technology, growing markets to
      sell their products to, a solid balance sheet,
      sufficient cash to operate, and they sell below book
      value.
      Their time will come again soon.

 
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