SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2006
MAGAL SECURITY SYSTEMS LTD.
(Name of Registrant)
P.O. Box 70, Industrial Zone, Yahud 56100 Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
Indicate by check mark whether by furnishing the information contained
in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [X]
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-_________
This Report on Form 6-K is incorporated by reference into the Registrant's Form
F-3 Registration Statements File Nos. 333-9050 and 333-123265 and Form S-8
Registration Statement File No. 333-06246.
Magal Security Systems Ltd.
6-K Items
1. Press Release re Magal Receives an Order for its PipeGuard System to
Protect Banks From Underground Intrusions dated December 11, 2006.
ITEM 1
Press Release Source: Magal Security Systems Ltd
Magal Receives an Order for its PipeGuard System to
Protect Banks From Underground Intrusions
Monday December 11, 5:28 am ET
YAHUD, Israel, December 11 /PRNewswire-FirstCall/ -- Magal Security Systems,
Ltd. (NASDAQ GM: MAGS; TASE: MAGS), today announced it has received an order
through one of its fully owned subsidiaries, to install its PipeGuard system to
protect 6 bank branches from underground intrusions. The work is expected to be
executed before the end of the first quarter of 2007.
Following a long and thorough market study, Magal came to the conclusion that
one of the major physical threats that banks worldwide currently face, are
robberies of valuables contained in safes located below ground by the digging of
tunnels beneath the bank's building.
Magal Group's PipeGuard system utilizes an innovative and unique technology to
guard buried assets. The system has the ability to detect potential attacks and
intrusions and alert authorities before potential harm or damage occurs. This
order utilizes the PipeGuard's advanced technological capabilities to prevent
underground intrusions into bank buildings and break-ins into the bank's safes
and other secure areas.
Izhar Dekel, CEO of Magal, said: "We are very proud to penetrate this new niche
of protecting banks from underground intrusions. We identified this particular
niche as one that carries a huge marketing potential for our PipeGuard system.
We expect this order will be followed by more orders from this customer and from
other banks worldwide during 2007. This order also validates the PipeGuard's
technology as the solution for protecting valuable buried assets. "
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. (Magal) is engaged in the development, manufacturing
and marketing of computerized security systems, which automatically detect,
locate and identify the nature of unauthorized intrusions. Magal also supplies
video monitoring services through Smart Interactive Systems, Inc., a subsidiary
in the U.S. The Company's products are currently used in more than 70 countries
worldwide to protect national borders, airports, correctional facilities,
nuclear power stations and other sensitive facilities from terrorism, theft and
other threats. Israeli-based Magal has subsidiaries in the U.S., Canada, the
U.K., Germany, Romania, Mexico and an office in China.
Magal trades under the symbol MAGS in the U.S. on the Nasdaq Global Market since
1993 and in Israel on the Tel-Aviv Stock Exchange (TASE) since July 2001.
This press release contains forward-looking statements, which are subject to
risks and uncertainties. Such statements are based on assumptions and
expectations which may not be realized and are inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and some of which
might not even be anticipated. Future events and actual results, financial and
otherwise, may differ from the results discussed in the forward-looking
statements. A number of these risks and other factors that might cause
differences, some of which could be material, along with additional discussion
of forward-looking statements, are set forth in the Company's Annual Report on
Form 20-F filed with the Securities and Exchange Commission.
Contacts:
Company
Magal Security Systems, Ltd
Raya Asher, CFO
Tel: +972-3-5391444
Fax: +972-3-5366245
E-mail: magalssl@trendline.co.il
Investor Relations
G.K. Investor Relations
Ehud Helft/Kenny Green
Tel: +1-866-704-6710
E-mail: Ehud@gk-biz.com
Kenny@gk-biz.com
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MAGAL SECURITY SYSTEMS LTD.
(Registrant)
By: /s/Jacob Even-Ezra
------------------
Jacob Even-Ezra
Chairman of the Board
Date: December 11, 2006