-3x Short Magnificent 7 ... (BIT:MAGS)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more -3x Short Magnificent 7 ... Charts. Click Here for more -3x Short Magnificent 7 ... Charts.](/p.php?pid=staticchart&s=BIT%5EMAGS&p=8&t=15)
Magal Reports a US$ 6.1 Million Framework Agreement for Israeli
Seam-Line Project
YAHUD, Israel, March 31 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd.
(NASDAQ NM:MAGS) (TASE:MAGS) today announced that it has signed a framework
agreement for US$6.1 million with the Israeli Ministry of Defense (MOD) to
continue the installation of intrusion detection systems along the seam-line
between Israel and the West Bank. This agreement is expected to be completed by
the end of the third quarter of 2005.
Mr. Even-Ezra, Chairman of Magal said: "This agreement is a follow-on from
previous orders that Magal has received in the past few years from the Israeli
MOD for the installation of the Company's intrusion detection systems along the
seam-line. We are gratified that the Israeli MOD has once again chosen us for
the important task of protecting Israel's borders. The Israeli MOD has
particularly stringent security and operational requirements. The fact that
Magal is chosen continually to protect the country's borders, where there is a
significant and persistent risk of terrorism, is testament to the quality and
success of Magal's offering."
Mr. Even-Ezra concluded: "We believe the company will continue to receive
further orders for the installation of our systems on the seam-line during this
year."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development,
manufacturing and marketing of computerized security systems, which
automatically detect, locate and identify the nature of unauthorized
intrusions. Magal also supplies Video Monitoring Services through Smart
Interactive Systems, Inc., a subsidiary established in the U.S. in June 2001.
The Company's products are currently used in more than 70 countries worldwide
to protect national borders, airports, correctional facilities, nuclear power
stations and other sensitive facilities from terrorism, theft and other
threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the U.K.,
Germany, Mexico, Romania and an office in China.
Magal trades in the U.S. on the NASDAQ National Market since 1993 and in Israel
on the Tel-Aviv Stock Exchange (TASE) since July 2001, under the symbol MAGS.
This press release contains forward-looking statements, which are subject to
risks and uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and some of
which might not even be anticipated. Future events and actual results,
financial and otherwise, may differ from the results discussed in the
forward-looking statements. A number of these risks and other factors that
might cause differences, some of which could be material, along with additional
discussion of forward-looking statements, are set forth in the Company's Annual
Report on Form 20-F filed with the Securities and Exchange Commission.
Contacts:
Magal Security Systems, Ltd
Roi Levy
Tel: +972-3-539-1444
Fax: +972-3-536-6245
E-mail:
Gal IR International
Ehud Helft/Kenny Green
Tel: +1-866-704-6710
Int'l dial: +972-3-607-4717
E-mail:
DATASOURCE: Magal Security Systems Ltd.
CONTACT: Contacts: Magal Security Systems, Ltd. Roi Levy, Tel:
+972-3-539-1444, Fax: +972-3-536-6245, E-mail:
. Gal IR International, Ehud
Helft/Kenny Green, Tel: +1-866-704-6710, Int'l dial:
+972-3-607-4717, E-mail: ,