Magal Receives $4 Million in New Contracts

Aug 27, 2014, 06:00 ET from Magal Security Systems Ltd

YAHUD, Israel, August 27, 2014 /PRNewswire/ --

Magal Security Systems, Ltd. (NASDAQ: MAGS) announced today that it recently received a number of new contracts, amounting to more than $4 million.

One of the contracts, amounting to almost $2 million, is for a dual technology smart fence (taut wire and vibration sensors) for a homeland security application in Israel.

Magal also received approximately $500,000 in orders for its latest fiber sensor technology to secure industrial sites and sea-ports in South-East Asia and the USA.

The balance of the orders were for a mix of products and projects including the expansion of a Ramat Ha'sharon safe city project in Israel and a smart robust grid to secure water canals in a nuclear power plant located in the Far-East.

Eitan Livneh, President and CEO of Magal S3, commented: "Following our strategic acquisition of long range fiber optic PIDS technology, we are definitely seeing strong traction for this technology. I am also encouraged by the ongoing receipt of follow-on orders from our existing customers."

About Magal S3

Magal S3 is a leading international provider of solutions and products for physical and cyber security, as well as safety and site management. Over the past 42 years, Magal S3 has delivered tailor-made security solutions and turnkey projects to hundreds of satisfied customers in over 80 countries - under some of the most challenging conditions.

Magal S3 offers comprehensive integrated solutions for critical sites, managed by Fortis4G - our 4th generation, cutting-edge Physical Security Information Management system (PSIM). The solutions leverage our broad portfolio of homegrown Perimeter Intrusion Detection Systems (PIDS), advanced outdoors CCTV / IVA technology and Cyber Security solutions.

For more information:
Magal S3
Eitan Livneh, President & CEO
Tel: +972-3-539-1421
Assistant: Ms. Elisheva Almog

GK Investor Relations
Ehud Helft/Kenny Green
Tel: (US) +1-646-201-9246
Int'l dial: +972-3-607-4717

SOURCE Magal Security Systems Ltd