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Latest Magal Security Systems Stories

2010-09-27 06:06:00

YAHUD, Israel, September 27, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS) announced today that it has received a US$2.3 million order for the support and maintenance of a major homeland security system in Israel. The two year contract is for services related to an existing large perimeter security system. Eitan Livneh, President and CEO of Magal S3, commented: "Magal's client relationships and continued commitment to customer satisfaction enables us...

2010-09-21 08:16:00

YEHUD, Israel, September 21, 2010 /PRNewswire-FirstCall/ -- Magal S3 (NASDAQ GM: MAGS) today announced that Company's major shareholder, Mr. Nathan Kirsh has provided Magal with a $10 million bridge loan, forming the first stage of Magal's strategic capital raising plan. This plan has been formulated by management together with the Board of Directors and is designed to provide the Company with the stability and the capital for the long-term growth of its business. As approved by the...

2010-09-01 01:59:00

YAHUD, Israel, September 1, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. (NASDAQ GMS: MAGS, TASE: MAGS) today announced that revenues for the three month period ended June 30, 2010 grew 17% as compared to the first quarter of 2010. Revenues for the second quarter of 2010 totaled US$11.4 million as compared with $9.8 million for the first quarter of 2010. The net loss for the second quarter of 2010 totaled $1.5 million, or $0.15 per share, a decline of 35.0% from US$2.4...

2010-08-24 06:34:00

YAHUD, Israel, August 24, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS;) announced today that it has received an order to protect the perimeter of Nanchang airport in China. Magal S3 received a similar order last month for the Zhengzhou airport, also in China. Both orders are for Magal's fence mounted fiber sensor. Eitan Livneh, President and CEO of Magal S3, commented: "Once these two sites are installed, our PIDS (Perimeter Intrusion Detection...

2010-08-12 04:13:00

YAHUD, Israel, August 12, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (NASDAQ GM: MAGS;) announced today the results of the extraordinary general shareholders meeting that was convened at the request of certain U.S. - based shareholders. At the meeting, the current Board of Directors was supported by 60.04% of the shareholders who participated in the meeting, 39.71% of the votes cast voted for the replacement of the current Board and 0.23% abstained. In addition, the...

2010-08-01 08:03:00

YAHUD, Israel, Aug. 1 /PRNewswire-FirstCall/ -- Magal Security Systems, Ltd. (Nasdaq GM: MAGS) announced today that it has received during the past few weeks approximately $5.5 million of orders for projects in Israel and worldwide. The orders from Israel are related to homeland security and have been received from existing customers for new sites and expansions, as well as follow on support. Two of the orders consisting of $1.2 million in the aggregate are to protect overseas critical...

2010-07-21 08:59:00

Yahud, ISRAEL, July 21, 2010 /PRNewswire-FirstCall/ -- Magal S3's (NASDAQ: MAGS) Board of Directors met today to consider the letter it received from the dissident shareholders that represent 17.8% of the company's shareholders. The Board found that the offers made by Mr. Kirsh, Plenus Fund and OPTEX, a Japanese company, to be non-comparable, as the OPTEX proposal was condition at on the replacement of the majority of the company's Board of Directors, while the Plenus proposal...

2010-07-19 09:54:00

YAHUD, Israel, July 19, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. (NASDAQ GMS: MAGS, TASE: MAGS) today announced that it received two non-binding financing proposals from Plenus and Optex Co., Ltd. These proposals were solicited by the shareholders who requested that an Extraordinary General Meeting of the Shareholders be called to replace the majority of the current members of Magal's Board of Directors. Both proposals explicitly state that they are non-binding and are...

2010-07-12 08:24:00

YEHUD, Israel, July 12, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. (NASDAQ GM: MAGS; TASE: MAGS), disclosed today that it has received a letter from its principal shareholder, Mr. Natie Kirsh, in which he notified Magal that he has sent a letter to the shareholders of the Company in which he has indicated unequivocal support for the Company's current Board of Directors and Chairman. The letter also states that Mr. Kirsh is against the current initiative of certain...

2010-07-01 10:05:00

YAHUD, Israel, July 1, 2010 /PRNewswire-FirstCall/ -- Magal Security Systems Ltd. (NASDAQ GMS: MAGS, TASE: MAGS) today announced that an Extraordinary Meeting of its shareholders will be held on August 12, 2010 at 10AM in the Company's offices in Yehud, Israel. As requested by certain shareholders, the agenda of the meeting will include their demand that an election take place to replace all of the current board members other than Mr. Nathan Kirsh and the Company's two outside directors...


Word of the Day
cenobite
  • One of a religious order living in a convent or in community; a monk: opposed to anchoret or hermit (one who lives in solitude).
  • A social bee.
This word comes from the Latin 'coenobium,' convent, which comes from the Greek 'koinobios,' living in community.
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