Magal Reports new Appointments
September 06 2006 - 6:00AM
PR Newswire (US)
YAHUD, Israel, September 6 /PRNewswire-FirstCall/ -- Magal Security
Systems, Ltd. (NASDAQ GM:MAGS, TASE:MAGS) today announced that the
company's Board of Directors appointed Mr. Izhar Dekel, currently
the President of the Company, to also serve as CEO. Mr. Dekel will
replace Mr. Jacob Even-Ezra, who has been the CEO of Magal since
its inception. Mr. Even-Ezra will continue to serve as the Chairman
of the Board of the Company. The Board also decided to appoint Mr.
Jacob Perry as Deputy Chairman of the Board. Mr. Perry has served
as a director of the Company since December 2002. From 1995 to
December 2002, Mr. Perry was President and CEO of Cellcom Israel
Ltd. Mr. Perry served with the Israeli General Security Service for
29 years, and served as its chief from 1988 until 1995. Mr. Perry
has also served as an adviser to the Israeli Prime Minister on the
subject of prisoners of war and missing persons. He was a member of
the management of many public organizations and also serves as
chairman of the board of directors of Mizrahi Tefahot Bank B.M. and
Lipman Electronic Engineering Ltd. Mr. Perry holds an A.M.P. from
Harvard Business School and a B.A. in Oriental Studies and History
of the Jewish People from Tel-Aviv University. The appointments are
effective as of September 1, 2006. 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 National 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 Investor Relations Magal Security Systems, Ltd Gelbart
Kahana Investor Relations Raya Asher, CFO Ehud Helft/Kenny Green
Tel: +972-3-5391444 Tel: +1-866-704-6710 Fax: +972-3-5366245
E-mail: E-mail: DATASOURCE: Magal Security Systems Ltd CONTACT:
Company, Magal Security Systems, Ltd, Raya Asher, CFO, Tel:
+972-3-5391444, Fax: +972-3-5366245, E-mail: , Investor Relations,
Gelbart Kahana Investor Relations, Ehud Helft/Kenny Green, Tel:
+1-866-704-6710, E-mail: ,
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