OSI Systems Awarded Approximate $3 Million Contract for Air Cargo Security Screening
October 15 2008 - 6:00AM
Business Wire
OSI Systems, Inc. (Nasdaq:OSIS), a vertically-integrated provider
of specialized electronic products for critical applications in the
security and healthcare industries, announced today that its
Security division, Rapiscan Systems has received an approximate $3
million contract from an undisclosed U.S. air cargo and freight
forwarder for multiple Rapiscan MVXR5000 multi-view hold baggage
and parcel screening systems. The systems are to be used to screen
air cargo aboard passenger planes within the U.S. under the
Transportation Security Administration�s (TSA) Certified Cargo
Screening Program (CCSP). Under the CCSP in accordance with the
9/11 Commission Act of 2007, Congress mandated that TSA establish
policies to ensure inspection of 50 percent of all air cargo
carried on passenger airplanes by February 2009, with a 100 percent
target by August 2010. Rapiscan Systems President, Ajay Mehra,
stated, �For over fifteen years, Rapiscan has provided high
performance security screening solutions to companies in the global
air cargo industry. In the case of TSA�s Certified Screening
Program, we have worked closely with air cargo companies to develop
solutions that meet advanced throughput, detection, timing and
budget requirements. We continue to support airlines, freight
forwarders and government agencies both in the U.S. and around the
world to ensure the implementation of new air cargo screening
regulations.� The Rapiscan MVXR5000 system is a multi-view
dual-energy X-ray imaging unit that enables advanced automated
explosives detection, class leading image quality and low false
alarm rates. It has been deployed in airports worldwide and has the
ability to scan up to 1,800 items per hour. It features a built-in
flexible system configuration that allows easy integration into any
existing security architecture. About OSI Systems, Inc. OSI
Systems, Inc. and its subsidiaries is a vertically integrated
designer and manufacturer of specialized electronic systems and
components for critical applications. The Company sells its
products in diversified markets, including homeland security,
healthcare, defense and aerospace. The Company has more than 30
years of experience in electronics engineering and manufacturing
and maintains offices and production facilities located in more
than a dozen countries. OSI Systems implements a strategy of
expansion by leveraging its electronics and contract manufacturing
capabilities into selective end product markets through organic
growth and acquisitions. For more information on OSI Systems Inc.
or any of its subsidiary companies, visit www.osi-systems.com. News
Filter: OSIS-G This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such statements include information regarding
the company�s expectations, goals or intentions about the future,
including, the Company�s contract to deliver multiple MVXR 5000 to
an undisclosed freight forwarder. The actual results may differ
materially from those described in or implied by any
forward-looking statement. In particular, the timing, and delivery
of MVXR 5000 inspection systems may not ultimately remain in line
with the Company�s current expectations. Other important factors
are set forth in the Securities and Exchange Commission filings OSI
Systems, Inc. All forward-looking statements speak only as of the
date made, and the company undertakes no obligation to update these
forward-looking statements.
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