Magal Security Systems Receives $4M In Contracts From Israel, US And Asia

September 3, 2014 | Israeli company Magal Security Systems (MAGS) announced that it recently received a number of new contracts that amount to more than $4 million, according to reports. The largest contract amounted to nearly $2 million for a dual technology smart fence in Israel. In addition, the company received orders for its fiber sensing technology to secure industrial sites and sea ports totaling over $500,000 each from the United States and Southeast Asia. Magal was founded in 1965 as a branch of the Israel Aerospace Industry focused on the development of smart security fences. The company was privatized in 1980 and had its IPO on NASDAQ in 1993.