YEHUD, Israel, December 26, 2017 /PRNewswire/ --
Magal Security Systems, Ltd. (NASDAQ: MAGS) announced that it has signed a $13 million contract to provide integrated security solutions as a subcontractor for Toyota Tsusho Corporation. Magal will provide Toyota Tsusho Corporation and its end customer - a major international sea port in East-Africa, with a fully integrated turnkey security solution.
Saar Koursh, CEO of Magal, commented:"We are proud to have been selected by Toyota Tsusho Corporation, to deliver our integrated security solutions. We are proud and honored to team with a global leader such as Toyota Tsusho Corporation, for such a major security project. I am confident that this partnership will be a successful one."
Continued Mr. Koursh, "The order integrates a number of our technologies including perimeter intrusion detection systems (PIDS), cyber security, Video Management Software (VMS) and Intelligent Video Analytics (IVA). These will all be integrated into and managed by our cutting-edge Fortis4G Physical Security Information Management System (PSIM). Our proven experience, engineering and integration capabilities, combined with our broad portfolio of home-grown security solutions and backed by Toyota Tsusho Corporation's global presence and project management infrastructure, enabled us to win this challenging project. We look forward to receiving further orders such as these in the future."
Magal is a leading international provider of solutions and products for physical and video security 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 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 home-grown PIDS (Perimeter Intrusion Detection Systems), Symphony - our advanced VMS (Video Management Software) with native IVA (Intelligent Video Analytics) security solutions.
Forward Looking Statements
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation ReformAct of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown 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 inMagal's reports filed from time to time with the Securities and Exchange Commission, including its Annual Report on Form 20-F and Current Reports on Form 6-K.
GK Investor Relations
Ehud Helft / Gavriel Frohwein
Tel: (US) +1-646-688-3559
SOURCE Magal Security Systems, Ltd.