OSI Systems Awarded 10-Year Contract for Cargo Turnkey Screening in Guatemala
January 23 2019 - 7:30AM
Business Wire
OSI Systems, Inc. (“Company” or “OSI Systems”) (NASDAQ: OSIS)
today announced that its S2 Global business has entered into a
10-year contract to provide a complete turnkey screening solution
for the Port of Santo Tomas de Castilla, the busiest port in
Guatemala (as measured by container traffic). The Company will
construct civil works, deliver and integrate Rapiscan® Eagle® P60
high-energy X-ray inspection systems, perform security screening
and remote image analysis utilizing the CertScan® integration
platform for 100% of the cargo (inbound, outbound and transshipped)
and provide full life cycle support.
OSI Systems CEO Deepak Chopra stated, "We are pleased to add
another important project to our growing portfolio of turnkey
screening programs. Under this contract, we intend to build upon
our prior experience and utilize our proprietary technologies and
integration platforms –- including CertScan® -- to help the Port of
Santo Tomas de Castilla with their plans to grow their traffic,
operations and become a leader in the region and achieve
breakthrough improvements in security, efficiency and revenue
collection.”
OSI Systems has turnkey integrated services programs in
operation with customs, border and port authorities worldwide,
including the ongoing successful programs in Mexico, Puerto Rico
and Albania. These integrated services programs have proven highly
successful for each customer, improving public safety and security
and increasing the accuracy of customs declarations. Under the
program, the Company typically operates its cargo scanning
equipment for the customer, manage, design and build inspection
sites and information management networks, analyze the resulting
images, and store the images matched with identifying data such as
cargo manifests, customs declarations or vehicle license
numbers.
About OSI Systems
OSI Systems is a vertically integrated designer and manufacturer
of specialized electronic systems and components for critical
applications in the homeland security, healthcare, defense and
aerospace industries. The Company combines more than 40 years of
electronics engineering and manufacturing experience with offices
and production facilities in more than a dozen countries to
implement a strategy of expansion into selective end product
markets. For more information on OSI Systems or its subsidiary
companies, visit www.osi-systems.com. News Filter: OSIS-G
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements relate to OSI Systems’ current
expectations, beliefs, projections and similar expressions
concerning matters that are not historical facts and are not
guarantees of future performance. Forward-looking statements
involve uncertainties, risks, assumptions and contingencies, many
of which are outside OSI Systems’ control, such as, but not limited
to, the implementation and management of complex, advanced,
security-screening operations in a geographically-remote location,
changes that may occur in the government or political climate in
Guatemala over the lengthy period of performance, mechanisms for
resolving project-related disputes should they arise and other
presently-unforeseen challenges. Consequently, actual results to
differ materially from those described in or implied by any
forward-looking statements. All forward-looking statements are
based on currently available information and speak only as of the
date on which they are made. OSI Systems assumes no obligation to
update any forward-looking statement made in this press release
that becomes untrue because of subsequent events, new information
or otherwise, except to the extent it is required to do so in
connection with its ongoing requirements under Federal securities
laws. For a further discussion of factors that could cause OSI
Systems’ future results to differ materially from any
forward-looking statements, see the section entitled "Risk Factors"
in OSI Systems’ most recently filed Annual Report on Form 10-K and
other risks described therein and in documents subsequently filed
by OSI Systems from time to time with the Securities and Exchange
Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20190123005234/en/
OSI Systems, Inc.Ajay VashishatVice President, Business
Development310-349-2237avashishat@osi-systems.com
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