Magal Security Systems announced the receipt of two maintenance contracts in the Americas amounting to approximately $4 million.
Magal Security Systems announced the receipt of two maintenance contracts in the Americas amounting to approximately $4 million.
One of the contracts is for the maintenance and support of Magal’s products already installed at various correctional facilities and the second is to provide maintenance and support for the perimeter security for the facilities of an electrical power generation company.
Mr. Dror Sharon, CEO of Magal, commented, “These types of contracts provide Magal with an ongoing, reliable and predictable revenue stream, which is aligned with our strategy to increase the portion of these type of revenues in our overall mix. The advanced technologies and the increasingly complex nature of adequately securing sites, calls for maintenance and support services from a partner our clients can trust. This is why they continue expressing a strong interest in both our security products and services, as well as in our long-term support and maintenance offering.”