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Tuesday, May 31, 2011

Magal Security Systems Ltd ( NASDAQ: MAGS ) announces $ 35 million African Football contract, Stock jumped 15 %

Magal Security Systems Ltd ( NASDAQ: MAGS ) announced winning of $ 35 million African Football contract. Stock jumped 15 % to % 3.60. Its 52 week high is close to $3.68. If stock crosses the range with higher volumes, it will considered a strong breakout. Until then it will be cautious trade to initiate buy below $ 3.68.

Below is the Detailed News:

Magal Security Systems Ltd
Magal Security Systems announced that it has signed a $35.5 million contract for a turnkey project, to provide a fully integrated security system, covering multiple sites, for the African Cup of Nations Football Championship to be held in January 2012 in West Africa. The project will cover football grounds, the stadium and the Olympic villages for the participating teams. The full solution will be networked and integrated into several command and control centers by Fortis - Magal's state of the art Physical Security Information Management (PSIM) system. A built in hierarchical structure will enable control of several smaller centers by a main regional control center.

( Source: Reuters )


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