This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Magal Expands Its Operations Into India Through The Establishment Of A Joint Venture

YEHUD, Israel, April 2, 2012 /PRNewswire/ --



Magal Security Systems Ltd. (NASDAQ GMS: MAGS) announces today 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, Managing Director, 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."

Mr. JK Srivastava, MD of Veecon Group said: "I am delighted to extend my support for the new opportunity. I am also thankful for the trust that Magal , the global leader in providing security solutions, has in us. We shall be garnering and synergizing our energy, goodwill and extend support for success."

About Magal S 3

Magal S3 is a leading international provider of security, safety and site management solutions and products. Over the past 42 years, Magal S3 has delivered tailor-made solutions and turnkey projects to hundreds of satisfied customers in over 80 countries in some of the world's most demanding locations.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SYM TRADE IT LAST %CHG
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%

Markets

Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs