OSI Systems Announces Deployment of Cargo and Vehicle Inspection Systems with European Commission
HAWTHORNE, Calif., May 19, 2009 (BUSINESS WIRE) -- OSI Systems, Inc. (NASDAQ:OSIS), a vertically-integrated provider of specialized electronic products for critical applications in the Security and Healthcare industries, today announced that the European Commission has deployed the first of twelve Eagle(R) M4507 series mobile cargo and vehicle inspection systems. The deployment is part of a European Union project to enhance border and customs controls in Belarus, Moldova and Ukraine.
The new Eagle(R) M507 high-energy cargo and vehicle inspection systems will help the State Customs Services of Belarus, Moldova and Ukraine combat arms and drug smuggling, counterfeiting, revenue fraud and other cross border criminal activities. The multi-year European Commission contract, which was previously awarded following a global competitive tender, calls for the deployment of twelve Rapiscan Eagle M4507 series mobile systems as well as training and on-going technical support.
Deepak Chopra, Chairman and Chief Executive Office of OSI Systems, stated, "We are pleased to supply the European Commission and customs officials in the Ukraine, Belarus and Moldova with the Rapiscan Eagle(R) Mobile cargo and vehicle inspection systems to improve security and safeguard global trade. The Rapiscan Eagle(R) provides superior image resolution, mobility and penetration making it an ideal tool in the global fight against narcotics, contraband and weapons smuggling."
The Rapiscan Eagle(R) M4507 mobile cargo and vehicle inspection system, as deployed by the U.S. Government, is mounted on a road-worthy commercial truck platform. The system can be deployed to scan shipping containers and trucks in less than 20 minutes while also being capable of penetrating dense cargo at increased inspection rates without impeding the flow of commerce. The system is part of Rapiscan's Eagle(R) product line of High Energy X-ray Cargo inspection systems that features mobile, gantry, portal and fixed deployment configurations. The products have been installed internationally for use by military, customs and border protection agencies.
About OSI Systems, Inc.
OSI Systems, Inc. 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. We combine more than 30 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 Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding the Company's expectations, goals or intentions about the future, including, the Company's contracts to deploy its cargo and vehicle inspection systems. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the timing, and delivery of the cargo inspection systems may not ultimately remain in line with the Company's current expectations. Other important factors are set forth in the Securities and Exchange Commission filings OSI Systems, Inc. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
SOURCE: OSI Systems, Inc.
OSI Systems, Inc.
Jeremy Norton, Vice President, Investor Relations & Business Development, 310-349-2372
jnorton@osi-systems.com
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