Israeli company Magal Security Systems Ltd.(Nasdaq: MAGS; TASE: MAGS) is one of the firm seeking contracts to help build the US-Mexico border wall. The company, which was part of the construction of Israel's southern border fence with Egypt, is seeing major demand for its shares since Donald Trump was elected US president.
Magal's share price has risen 50% since the US elections and by 5% since President Trump announced that he is going ahead with the wall.
Magal is one of many Israeli companies that were involved in the construction of Israel's border walls and fences and are hoping to receive contracts for the US-Mexico wall.
Magal executives will be demonstrating their security technology package at a conference on border security technologies in Virginia this week. In attendance will be senior executives from the US Homeland Security Agency and other agencies. Magal CEO Saar Koursh told the US media, "We have the right product and the right experience that will help us in presenting our systems for securing the border."
Among recent projects awarded to Magal was the upgrade and support of the integrated security systems for the 2017 African Cup of Nations Games soccer tournament currently taking place in Gabon.
Magal is controlled by Yishay Davidi's FIMI Opportunity Funds (FIMI).
Published by Globes [online], Israel business news - www.globes-online.com - on January 29, 2017