Magal Security Systems Ltd Receives a US$850,000 Order to Protect a Major Correctional Facility in Southeast Asia
YAHUD, Israel, Jul 31, 2002 (BUSINESS WIRE) -- Magal Security Systems, Ltd. (NASDAQ NM:MAGS, TASE:MAGS), today announced that it has received an order to install its Perimeter Intrusion Detection Systems to protect a major prison in Southeast Asia. This US$850,000 order is expected to be completed in its majority during 2002, with revenues reflected in the financial results for the year.
Magal is acting as a sub-contractor for Megason Electronics and Tyco, who won the tender for the total protection of this facility. Magal's portion of this project includes providing Perimeter fencing, combined with Taut Wire Intrusion Detection Systems, CCTV Cameras and Video Motion Detection Systems.
Mr. Izhar Dekel, President of Magal, said: "Magal continues to demonstrate its strength as a provider of turnkey solutions in the security market. In fact, this contract follows a number of installations Magal has undertaken in this region, including electrical sub-stations, satellite communications sites and power plants."