Posted on: 04 November 2019 by Chloe Greenbank
Providing integrated solutions and products for physical and cyber security, safety and site management, Magal Security Systems (MAGS) has revealed that it has won contracts amounting to $2.4m to support the critical perimeter security infrastructure of airports.
“Magal has a long history of protecting critical infrastructure, and over the years our systems have secured the perimeters of some of the world’s busiest airports,” said Mr Dror Sharon, CEO of Magal. While some of the contract wins were for two major international airports, some wins include product and services for other secondary airports, while others were for maintenance related to previously purchased products and services from Magal.
“These new contracts are a testament to our ability to execute, providing highly reliable products and quality services to our customers. These orders are also a demonstration of how our large existing customer base is a potential source of further orders down the road,” added Sharon.
“The majority of these new orders were for ongoing perimeter security maintenance. For Magal, this represents a stable and potentially long-term revenue stream, and is in line with our strategy to increase the portion of our revenues which are recurring,” he continued. “Airport protection remains a key long-term growth vertical for Magal and we look forward to continuing the expansion and deepening the penetration of our customer base, through both our core and growth verticals.”