YEHUD, ISRAEL, Dec. 28, 2020 /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 the award of a $9.0
million project for the renewal of the integrated security
system and system upgrades for a major seaport in Africa.
The award, from a long-term customer, is for a three-year
project which includes the renewal of IT and communication
infrastructure, along with a significant upgrade to the port's
security system. The award also provides for the installation of an
extensive array of cameras with day and night vision capabilities
and automated gates to improve port efficiency, along with a new
control room. The control room will feature the latest version of
Magal's state of the art command and control software (PSIM),
FORTIS, that will integrate all the security devices and systems
throughout the seaport. Magal's dynamic FORTIS command and control
capabilities provide holistic integration of security and
operational systems into one comprehensive, high availability
platform in the control room. The new version of FORTIS fully
integrates video management, advanced debriefing capabilities,
video tracking, and privilege and access hierarchy, allowing
operators and authorized personnel to rapidly respond to real-time
events, recognize threats and identify suspicious individuals.
Mr. Dror Sharon, Chief Executive
Officer of Magal, said, "This award highlights two key strategic
goals for Magal in 2020 – increase our recurring revenues and
expand project revenues in key territories where we have not been
as impacted by COVID-19 restrictions. Africa has been an important region for Magal
this year. We have landed several new critical infrastructure
projects and expanded contracts with existing customers. This
upgrade and maintenance project award for a major seaport is an
endorsement of the trust and confidence that Magal's customers have
in our capabilities, technology and services. Our teams on the
ground and our differentiated solutions, based on advanced
technology and software, continue to deliver a competitive
advantage to Magal in this crucial and dynamic region."
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
offers comprehensive integrated solutions for critical sites,
managed by Fortis, our 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
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, and as mentioned in this press release, there is
uncertainty about the spread of the Coronavirus and the impact it
will have 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, Assistant
to the CEO
+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.