The company will install its Perimitrax detection system at several public facilities.
Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS) has won an order worth more than $8 million to install its Perimitrax buried cable intrusion detection system as part of a project to protect several public utility facilities in Western Asia. The company will begin installing the system at the first site during the fourth quarter.
Perimitrax is a covert perimeter intrusion detection sensor that generates an electromagnetic field around buried sensor cables. If an intruder comes into contact with the field, an alarm is declared.
Magal CEO Izhar Dekel said, "We are very pleased to announce this order for one of Magal’s premier security solutions. This order, further attests to our position in the security area, while expanding and diversifying our geographic footprint into a new region.”
Magal closed at $8.96 on Nasdaq yesterday, giving a market cap of $93.1 million. The share rose 4.8% in morning trading on the TASE.
Published by Globes [online], Israel business news - www.globes.co.il - on September 10, 2007
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