MAGS - Magal Security - Airport Bomb Detection + more Message Board

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Non-Tech : MAGS - Magal Security - Airport Bomb Detection + more

MAGS 67.86

+1.4%

Oct 31 5:00 PM EST

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To: William Harvey who wrote (363)	3/7/1999 6:26:00 AM
From: William Harvey	of 394

The $240,000 (Snifex) deal, which was announced Wednesday, brings into Magal's stable of security products a unique technology which detects trace amounts of drugs or explosives without direct contact with the object. Raya Asher, CFO at Magal, said the purchase of Snifex adds a complementary product to Magal's existing product line. "We already have good relationships with security personnel at prisons, airports, and government offices and believe they will want a system that can detect drugs or explosives," she said. In addition, she added: "The price was good. It was not a big investment to risk and we saw the potential." The two founders of Snifex hold the rest of the shares. jpost.com WH

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