YEHUD, Israel, June 7, 2021 /PRNewswire/ -- Magal Security
Systems, Ltd. (NASDAQ: MAGS), a leading international
provider of comprehensive physical, video, and access control
security products and solutions, as well as critical site
management, announced today that its Senstar division, a world
leader in perimeter intrusion detection and video management
solutions, has been awarded a multi-million dollar contract for an
integrated perimeter security system at one the world's busiest
cargo gateways and passenger airports based in Asia.
The new contract is to protect the increased perimeter and
infrastructure expansion of an existing system on the airport's
periphery, which exceeds tens of kilometers in length. This Senstar
solution will include a multi-layered intrusion detection system
featuring fence-mounted and buried sensors and a software platform
for security management that will integrate with the facilities'
existing cameras and security infrastructure.
Dror Sharon, Chief Executive
Officer of Magal, said, "The key to winning this contract was
Senstar's technology and the scope of our offering. Senstar's
comprehensive, integrated systems offer physical security
capabilities not available from competitors. Technology is an
important differentiator that allows Senstar to land contracts with
high-profile customers like this important shipment center and
passenger hub. We plan to leverage Senstar's strong brand and
technology to grow our global business and increase our market
share in our target verticals of energy, corrections, logistics and
corrections, and critical infrastructure."
About Magal Security Systems Ltd.
Magal is a leading international provider of comprehensive
physical, video and access control security products and solutions,
as well as site management. Over the past 45 years, Magal has
delivered its products as well as tailor-made security solutions
and turnkey projects to hundreds of satisfied customers in over 80
countries under some of the most challenging conditions. Magal
operates two business divisions: Integrated solutions
(turn-key projects) division and Product division,
known as Senstar. On February 8,
2021, Magal announced the sale of its project division in an
asset and shares purchase agreement to Aeronautics Ltd. For
approximately $35 million. The
transaction is expected to close before June
30, 2021. Following the closing, the company will focus
entirely on security products, both software and hardware, and
product-based solutions, with a highly visible and scalable
business model.
About Senstar
Senstar is a global leader in innovative perimeter intrusion
detection systems (PIDS) and intelligent video management (VMS)
with advanced video analytics and access control, offering a
comprehensive suite of innovative, intelligent, integrated security
technologies. Senstar offers a comprehensive suite of proven,
integrated technologies that reduce complexity, improve performance
and unify support. Senstar, which products are found in thousands
of sites including critical infrastructure, logistics, corrections
and energy, has been protecting high risk assets for more than
40 years. For more information, visit the company's website at
www.senstar.com.
Forward Looking Statements
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. In
addition, there is uncertainty about the impact of the spread of
the COVID19 virus and its effect on the Company's operations, the
demand for Company's products, global supply chains and economic
activity in general.
For more information:
Magal Security Systems Ltd.
Diane Hill
+972-3-539-1421
dianeh@magal-s3.com
www.magalsecurity.com
IR Contact:
Brett Maas
Managing Partner
Hayden IR
+1 -646 -536 -7331
Brett@HaydenIR.com
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SOURCE Magal Security Systems, Ltd.