Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS) reported today that it won several deals in May, for a total of $8.5 million.
The deals are to secure 2 airports and several nuclear power plants in South-East Asia, renewing border gate systems in Israel, and expanding an existing security system deal in Eastern Europe.
Magal shares jumped over 15% today.
Most of the contracts are for turnkey projects, which are delivered ready for operation. The orders are expected to be supplied by the end of 2009.
The first project that will be undertaken will be expanding the security system at an Eastern Europe airport, and combining a taut wire system to detect break-ins through cable sensors. The perimeter intrusion detection system deal is worth $1.6 million.
The second project will be updating border gates for Israel, using the same type of system. The project is worth $4.6 million and includes building a complete, ready-to-use system, and will also integrate third-party security equipment.
Magal develops and sells smart barriers and fences, fence mounted detectors, virtual gates, buried and concealed detection systems, as well as a sophisticated protection package for sub-surface intrusion
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2009
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