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© mariusz szachowski dreamstime.com Electronics Production | January 17, 2018

OSI Systems signs two-year contract

OSI Systems' Security division has, as a follow on to its existing contract, signed a new two-year agreement with Servicio de Administración Tributaria (SAT), Mexico's tax and customs authority.
Under the agreement OSI will continue continue to provide security inspection services through a wide-ranging program utilising cargo and vehicle screening systems throughout Mexico.

"The anticipated sales from the new agreement are consistent with our expectations, which were reflected in the financial guidance for fiscal 2018 we previously provided," said OSI Systems' Chairman and CEO, Deepak Chopra. The agreement is for a value of up to USD 130 million over a two-year period beginning January 14, 2018, subject to currency fluctuations and variation in scope.

Mr. Chopra commented, "We are excited to continue the very successful border security screening program in Mexico that we started in 2012. This contract is a testament to the performance of our technology and our people, and the significant role this program has played in public safety and in law enforcement efforts against the smuggling of contraband."

Pursuant to the agreement, the company will continue to operate a x-ray screening program incorporating technology, staffing, systems integration, and maintenance support at sites throughout Mexico.

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September 21 2018 11:51 am V11.0.0-1