SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 September 2007
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-___________
This Report on Form 6-K is incorporated by reference into the Registrant's Form
F-3 Registration Statements File Nos. 333-9050 and 333-123265 and Form S-8
Registration Statement File No. 333-06246.
Magal Security Systems Ltd.
6-K Items
1. Press Release re Magal Reports the Acquisition of a European Security
Systems Integration Company dated September 5, 2007.
ITEM 1
Press Release Source: Magal Security Systems Ltd
Magal Reports the Acquisition of a European Security Systems Integration Company
Wednesday September 5, 7:00 am ET
Acquisition Expected to Contribute to Improved Revenues and Income
YAHUD, Israel, September 5 /PRNewswire-FirstCall/ -- Magal Security Systems,
Ltd. (NASDAQ GM: MAGS) (TASE: MAGS), today announced the acquisition of a
European company involved in the installation and integration of security
systems. The consideration consists of a cash payment of 6.8 million Euros and
additional consideration that will be based on performance and will be payable
over the next five years. The acquired company is active in geographic areas
where Magal has limited activity.
This acquisition is in line with the Company's strategic plan and is expected to
contribute to the Company's expansion in the integration field, particularly in
countries with strong growth potential for Magal's leading security solutions.
Magal expects that the acquired company will immediately contribute to revenues
and income in 2007 and beyond.
Mr. Izhar Dekel, CEO of Magal commented, "This acquisition serves as an
important step in the implementation of Magal's overall strategic expansion plan
of penetrating new territories and regions, while further expanding our
solutions offering. We believe that this acquisition increases our ability to
offer our comprehensive security solutions to new customers by expanding our
global footprint into new markets."
About Magal Security Systems, Ltd.:
Magal Security Systems Ltd. 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.
Magal trades under the symbol MAGS in the U.S. on the NASDAQ Global Market and
in Israel on the Tel-Aviv Stock Exchange (TASE).
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
Magal Security Systems, Ltd
Raya Asher, CFO
Tel: +972-3-5391444
Fax: +972-3-5366245
E-mail: magalssl@trendline.co.il
Investor Relations
GK Investor Relations
Ehud Helft/Kenny Green
Tel: +1-646-201-9246
E-mail: info@gkir.com
SIGNATURE
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/Izhar Dekel
--------------
Izhar Dekel
Chief Executive Officer
Date: September 5, 2007