Border Wall Construction: Potential Israeli Player
Israeli company Magal Security Systems Ltd. is one of the firm seeking contracts to help build the US-Mexico border wall. The company, which was part of the construction of Israel's southern border fence with Egypt, is seeing major demand for its shares since Donald Trump was elected US president. Magal's share price has risen 50% since the US elections and by 5% since President Trump announced that he is going ahead with the wall. Magal executives demonstrated their security technology package at a conference on border security technologies in Virginia in January. In attendance were senior executives from the US Homeland Security Agency and other agencies. According to Magal CEO Saar Koursh: "We have the right product and the right experience that will help us in presenting our systems for securing the border." Indeed, in early February, Governor Abbott toured the U.S.-Mexico border with Department of Homeland Security Secretary John Kelly and discussed the importance of strengthening border security. During their tour, Governor Abbott reiterated his commitment to be a partner with the administration in efforts to secure the border.