Magal Security Systems provides services and products of physical security and cyber security such as smart fences, taut wire systems, perimeter control systems, intrusion detection systems and sensor technologies.
The company is a major contractor for the Israeli military and the Israeli Ministry of Defense (IMOD). In 2020, the IMOD and the Israeli military accounted for 20.6% of the company’s yearly revenues.
Magal had a significant role in the construction of the Israeli Wall, which extends deep into the occupied West Bank and is partly built on Palestinian private land. In 2002, the company won 80% of the IMOD tenders, worth $15M, for the construction and maintenance of 170km of the Wall and electronic alert systems along it.
In 2005, the company won a tender worth $4.2M from the IMOD for the installation of electronic alert systems along another 40km of the Wall, and later that year won another contract, worth $6.1M, to build an electronic fence for the southern part of the wall in the West Bank. The company’s equipment was documented in a gate in the Wall in the Palestinian village of Mas’ha in the West Bank.
In 2001 and 2002, the company was contracted by the IMOD to install a detection system and to maintain and upgrade the fence surrounding the besieged Gaza.
In 2011, the company was contracted by the IMOD to install an electric fence in the occupied Syrian Golan.
The company attended several tenders and has been mentioned as a possible contractor for the wall in the USA-Mexico border in light of its involvement in the construction of the wall around Gaza and the West Bank.
In 2019, the company signed a $6.7M contract with the IMOD for the maintenance of border intrusion detection systems along 200 km of previously built fences. Also in 2019, the company won $4.2 million worth of contracts from the IMOD for the supply of electro-optic systems for military vehicles. In 2017, the company won a series of purchase orders from the IMOD, amounting to over $8.5M, to supply new innovative border and perimeter protection technologies. The IMOD was the first to adopt these technologies.
Services to Israel Prison Service
Between the years 2015 and 2020, the company provided maintenance for Electronic fences system for Israel Prison Service (IPS). In 2019-2020, the company provided electronic fences and system maintenance for IPS for the amount of 709,107 NIS.
Services to settlements
The company supplies security systems to Israeli settlements in the West Bank, including Ariel, Ma’ale Adumim, Itamar, Karnei Shomron and Oranit.
The company is publicly traded on Nasdaq under the ticker symbol MAGS.
Major shareholders include: FIMI Opportunities (42.6%) and Grace & White Inc. (4.9%).
CEO: Dror Sharon
Fully owned subsidiaries: Senstar Corporation, Senstar Inc., Senstar GmbH., Magal Soluciones Integrales, S.A. de C.V., MAGAL-S3 CANADA INC., Magal S3. Other significant subsidiaries: Magal Security Limited Kenya (51%).
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All the information contained in this page is valid until Tue 10/08/2021