Magal Security Systems Ltd. Receives the First Payment From a $13.5 Million Prison Security Upgrade Project
Source: Magal Security Systems Ltd
On Wednesday April 21, 2010, 6:30 am EDT
YEHUD, Israel, April 12, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. (NASDAQ: MAGS,
TASE: MAGS) announced today that it has received an advance payment of 30% of a $13.5 million contract
that is expected to be signed soon.
The contract includes modernizing and upgrading the indoor security systems of three high-security prisons in
Latin America. The facilities will remain operational throughout the implementation period, which is expected to
last approximately two years.
"This project represents the culmination of our work in both systems installation and project management in Latin
America over the past several years," said Eitan Livneh, President and CEO of Magal S3. "Correctional facilities
are one of Magal's main vertical markets; our Latin American operation has developed trusted relationship with
many customers and this recent contract award is a testament to our credibility in the region."
About Magal S3:
Magal S3 is a leading international provider of security, safety and site management solutions and products
(NASDAQ:MAGS - News). Over the past 40 years, Magal S3 has delivered tailor-made solutions to hundreds
of satisfied customers in over 80 countries. Magal S3 offers a broad portfolio of unique products used to protect
sensitive installations in some of the world's most demanding locations and harshest climates. This portfolio covers
the following three categories:
- Perimeter Intrusion Detection Systems (PIDS) - a variety of smart barriers and fences, fence mounted
detectors, virtual gates, buried and concealed detection systems;
- Close Circuit TV (CCTV) - a comprehensive management platform with a leading Intelligent Video Analysis
(IVA) and Video Motion Detection (VMD) engine;
- Physical Security Information Management (PSIM) - a proprieta