Ensec International, Inc. awarded major subcontract by Lockheed Martin for electronic security systems at George Washington Bridge, Lincoln and Holland Tunnels.
Lockheed Martin, as prime contractor, will integrate the various state-of-the-art security devices into one system capable of satisfying all the security needs of the Port Authority of New York and New Jersey saving time as well as money.
Ensec's initial portion of the total contract, valued at $17 million, is $500,000 and could be as much as $1.1 million.
"Lockheed Martin has been actively engaged in the design, integration and implementation of security systems for many high profile installations including highly classified U.S. Department of Defense facilities and Department of Energy sites. Consequently, we are very proud that Ensec has been selected as the supplier of a major component of this highly sophisticated system," stated Charles N. Finkel, President and CEO of Ensec International, Inc.
Ensec International, Inc. designs, develops, assembles, sells, installs and services integrated security systems for large commercial and government facilities. It has more than 400 security systems installed in some of the world's largest corporations. Its customers include ADT, EDS, Lockheed Martin and government agencies, including the Port Authority of New York & New Jersey's World Trade Center in New York.
Lockheed Martin IMS is a leading provider of data processing and systems integration services to about 200 state and local governments, as well as private-sector clients. IMS' Electronic Security Systems unit is based in Orlando, Florida. The company has more than 50 offices in the United States and Europe.
IMS is a subsidiary of Lockheed Martin Corporation.
Certain of the statements made in this release are forward-looking. There can be no assurance that actual results will not differ materially from the Company's expectations. Factors which could cause actual results to differ materially from such expectations include the Company's performance under the contract, the evolving character of the market for the Company's products, the performance of other service providers not subject to Company control, production delays or other manufacturing inefficiencies which may arise, new product development and potential technological obsolescence and other factors fully discussed in the section entitled Risk Factors in the Company's prospectus dated September 25, 1996.
CONTACT: John DeGeorge, Vice President - Sales
ENSEC INTERNATIONAL, INC.
Stephen D. Axelrod, CFA
Susan T. Bolen
WOLFE AXELROD ASSOCIATES
(212) 370-4500, (212) 370-4505 fax
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|Date:||Nov 6, 1996|
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