SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 February 2005
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-_____________
Magal Security Systems Ltd.
6-K Items
1. Press Release re Israeli Government Approves the New Seam-Line Route dated
February 24, 2005.
ITEM 1
Press Release Source: Magal Security Systems Ltd.
Israeli Government Approves the New Seam-Line Route
Thursday February 24, 9:00 am ET
YAHUD, Israel, February 24 /PRNewswire-FirstCall/ -- Magal Security Systems,
Ltd. (NASDAQ NM:MAGS ; TASE:MAGS) commented on recent developments with regard
to the Seam-Line Project, Magal's largest project during 2003.
On Sunday, February 20, 2005, the Israeli government approved the new seam-line
fence route. This decision is expected to signal the renewal of works on the
southern part of the seam-line project. Building of the seam-line fence was
mostly halted during 2004 as the route of the fence faced a number of legal
challenges.
As reported in the Israeli press, following the decision, the Israeli Ministry
of Defense is soon expected to publish orders for the work on the southern part
of the fence. It is widely believed that the majority of the remaining part of
the project will be completed during this year.
Mr. Even-Ezra, Magal's Chairman and CEO, commented on the news: "As we were one
of only two major suppliers of electronic systems for the seam-line project in
the past, it is natural to expect that we will be asked to participate in the
remaining part of the project as well. As we have said in the past, during 2005
we expect to resume significant work on the seam-line project."
Mr. Even Ezra concluded, "We welcome the Israeli Government's decision and
believe that we are in a strong position to receive orders for the seam-line
project in the near future."
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
established in the U.S. in June 2001. 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, Mexico, Romania and an office in China.
Magal trades in the U.S. on the NASDAQ National Market since 1993 and in Israel
on the Tel-Aviv Stock Exchange (TASE) since July 2001, in both under the symbol
MAGS.
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 Report on Form 8-K
filed with the Securities and Exchange Commission.
Contacts:
Magal Security Systems, Ltd GK International
Raya Asher, CFO Ehud Helft/Kenny Green
Tel: +972-3-539-1444 Tel: +1-866-704-6710
Fax: +972-3-536-6245 Int'l dial: +972-3-607-4717
E-mail: magalssl@trendline.co.il 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
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Jacob Even-Ezra
Chairman of the Board and
Chief Executive Officer
Date: February 24, 2005