The order follows previous installations executed for the same customer.
Computerized security systems developer and maker Magal Security Systems (Nasdaq: MAGS; TASE: MAGS) today announced that its fully owned Mexican subsidiary, Senstar-Stellar Latin America S.A. de C.V (SSLA) has received an order of more than $1.5 million to protect sensitive installations in Mexico.
The order calls for Magal Group's Perimeter Intrusion Detection Systems and is expected to be completed by the end of the year 2003.
Magal chairman Jacob Even-Ezra said: "This order follows previous installations that SSLA executed for the same customer, which reflects his confidence in Magal Group's products and we have every reason to expect more orders to follow from this customer".
Israeli-based Magal products are used 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. The company's net income of for 2002 was $1.9 million on revenues of $43 million.
Published by Globes [online] - www.globes.co.il - on 18 August 2003