Magal Security Systems announces the formation of a joint venture (JV) company with Veecon Group in India, which will provide Homeland Security (HLS) products and solutions to the Indian market. The foundation for the establishment of the JV between Magal and the Veecon Group was laid through the visionary approach of representatives from both Magal and Veecon, specifically Mr. Dror Harari, VP Sales, Magal and the support of Mr. Jacob Perry, Chairman, Magal and Mr. JK Srivastava, MD, Veecon Group.
Veecon Group is an established player in the Indian security market, focused on scanning and indoor security. The JV will support Magal′s existing customer base in India and will seek to capture new business from the many opportunities in this fast growing country.
"India's sheer size and its homeland security challenges offer many opportunities for Magal," commented Mr. Eitan Livneh, President and CEO of Magal S3. “While we have been successful in India in the past, winning strategic projects such as the Indira Gandhi International Airport, we believe that a local presence is a key strategic step which will enable us to further expand our business and provide better support for both our current and future customers."