OSI Systems Wins Tender to Provide Multiple Cargo and Vehicle Inspection Systems to UK Customs
HAWTHORNE, Calif., Apr 02, 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 it has been awarded a contract to provide multiple Rapiscan Eagle? Mobile cargo and vehicle inspection systems to the UK Customs authority.
The contract award follows a competitive global tender process and includes a multi-year service agreement. The systems are to be deployed at various strategic entry ports as part of a process to upgrade its existing screening technologies.
OSI Systems CEO, Deepak Chopra, stated, "We are pleased to have been awarded this prestigious contract with the UK Customs authority. To be selected following an international competitive tender process, replacing an incumbent supplier, underscores our ability to meet the highest standards for technical performance, reliability and overall value."
Mr. Chopra continued, "We offer our customers the broadest technology offering for cargo and vehicle inspection when compared to our competitors which is critical as our customers' needs change depending on the space limitations, required throughput and the type of cargo that is to be inspected. We continue to grow our installed base rapidly with recent contract awards received from customers in the United States, Europe, Middle East and Asia."
The Company recently opened dedicated cargo manufacturing facilities in Apex, North Carolina and Congleton, United Kingdom. Since opening the facility in Congleton in 2007, the facility has produced more than 50 high energy cargo systems which have been delivered to customers in twelve countries on three continents.
The Rapiscan Eagle? M4500 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? 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
Copyright Business Wire 2009