Magal Security Systems, Ltd. (NASDAQ: MAGS, TASE: MAGS) received a contract from a research organization, associated with a large US gas utility, to enhance the capabilities of its PipeGuard(TM) system - a sophisticated system, developed by Magal, that warns and protects buried pipes and cables against excavations.
The research organization has evaluated various technologies for mitigating and proactively alerting personnel when excavations are occurring in the vicinity of buried gas pipes, to enable effective and early response for prevention of potentially hazardous and catastrophic events. The rigorous testing included the ability to distinguish between the various types of excavation equipment in the proximity of pipelines, particularly in noisy environments such as busy highways.
The PipeGuard(TM) system has so far shown to be the most promising technology; with the contracted improvements it is expected to provide a cost effective solution for the proactive monitoring of gas pipelines to prevent third party damage.
Hagai Katz, Senior VP of Marketing & Business Development of Magal S3, commented: "Historically this system was designed to protect long distance pipelines against terrorist and criminal activity. Contractors all over the world are inadvertently digging or drilling into buried pipes, disrupting service, risking lives and may also cause environmental catastrophes. Our distributed system layout covers dispersed risk areas and is the perfect solution for this challenge. This financed development agreement is an excellent opportunity to develop the product for this important application and make it the preferred choice."
"This is an important step in our corporate strategy to supply sophisticated sensors and solutions beyond our traditional security market; in this case it is to preserve outdoor safety and green ecology," added Mr. Katz.
Source: PR Newswire