Rapiscan Systems Awarded $3 Million Contract for Hold Baggage Screening Systems
October 15, 2008 Hawthorne, CA
To Meet U.S. Air Cargo Screening Mandate, Major U.S. Freight Forwarder Selects Rapiscan MVXR5000
Rapiscan Systems, Inc., a leading global supplier of security inspection systems, announced today that it has received a $3 million contract from an undisclosed United States based freight forwarder for multiple Rapiscan MVXR5000 multi-view hold baggage screening systems. The systems are to be used to screen air cargo aboard passenger planes within the U.S. under the Transportation Security Administrations (TSA) Certified Cargo Screening Program (CCSP).
Under the CCSP in accordance with the 9/11 Commission Act of 2007, Congress mandated that TSA establish policies to ensure that 50 percent of all air cargo carried on passenger airplanes be inspected by February 2009, with a 100 percent target by August 2010.
Rapiscan Systems President, Ajay Mehra, stated, "For over fifteen years, Rapiscan has provided a broad range of high performance security screening solutions to the global air cargo industry. In the case of TSA's Certified Screening Program, we have worked closely with air cargo companies to develop solutions that meet advanced throughput, detection, timing and budget requirements. We will continue to lead the market in supporting airlines, IACs, freight forwarders and government agencies both in the U.S. and around the world to ensure the implementation of new air cargo screening regulations."
The MVXR 5000 Part of Rapiscans Proven Line of Air Cargo Screening Solutions
The Rapiscan MVXR5000 system is a multi-view high quality dual-energy X-ray imaging unit that enables advanced automated explosives detection, class leading image quality and low false alarm rates. It has been deployed in airports worldwide and has the ability to scan up to 1,800 items per hour. It features a built-in flexible system configuration that allows easy integration into any existing security architecture.
The MVXR5000 system is part of Rapiscan's family of air cargo screening solutions, which allow air cargo companies to screen items ranging in size from small parcels to ULD size pallets and containers, and which have been deployed by airlines, freight forwarders and other air cargo companies globally.
About Rapiscan Solutions
Rapiscan Systems, a division of OSI Systems, Inc. is a leading supplier of security inspection solutions utilizing X-ray and gamma-ray imaging, and advanced threat identification techniques such as neutron and diffraction analysis. The companys products are sold into four market segments; Baggage and Parcel Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening and People Screening. The company has an installed base globally of more than 70,000 security and inspection systems. The Rapiscan Systems product line is manufactured at four locations and supported by a global support service network. For more information on Rapiscan Systems, please visit www.rapiscansystems.com.
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 companys expectations, goals or intentions about the future, including, the companys contracts for the Rapiscan MVXR 5000. 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 air cargo inspection systems may not ultimately remain in line with the companys 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.
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