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OSI Systems secures $27 million European airport contract

EditorEmilio Ghigini
Published 04/03/2024, 13:52
© Reuters

HAWTHORNE, Calif. - OSI Systems , Inc. (NASDAQ:OSIS), a provider of specialized electronic systems for security applications, has secured a contract worth approximately $27 million.

The agreement, announced today, involves the supply of Itemiser® 5X explosive trace detection (ETD) systems and related consumables for a prominent European airport. These systems are intended for secondary passenger and carry-on baggage screening at airport security checkpoints.

The Chairman and CEO of OSI Systems, Deepak Chopra, expressed the company's satisfaction with the contract and emphasized the advanced nature of their portable ETD systems. These systems are designed to detect traces of explosives on personal belongings or passengers, enhancing security measures at airport checkpoints.

OSI Systems, with over 40 years of experience in electronics engineering and manufacturing, operates globally with a network of offices and production facilities across numerous countries. The company's focus spans critical applications in homeland security, healthcare, defense, and aerospace industries.

The award of this contract is a reflection of OSI Systems' ongoing expansion strategy and its commitment to provide advanced security technologies to the aviation industry. The delivery of the ETD systems is expected to span multiple years, indicating a sustained partnership between OSI Systems and the European airport.

It is important to note that while this announcement contains forward-looking statements, they are based on current expectations and projections and are not guarantees of future performance. Various uncertainties and risks could impact the actual results, and the company cautions against placing undue reliance on these statements.

The information regarding the contract and OSI Systems' role in providing security solutions is based on a press release statement from the company. This contract represents a significant step for OSI Systems in the security technology market and underscores its position as a key player in airport security solutions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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