FX.co ★ OSI Systems Bags $16 Mln Contract To Enhance Airport Security Infrastructure

OSI Systems, Inc., a manufacturer of electronic components, has announced on Thursday that its security department has been awarded a $16 million contract by an international airport for the improvement of security checkpoint lanes.

This contract will require the company to provide advanced 920CT screening systems integrated with Automated Tray Return Systems (TRS), as well as ongoing maintenance and support over several years. The introduction of TRS lanes is likely to increase efficiency, resulting in a more streamlined and effective passenger screening process, as stated by Deepak Chopra, the Chairman and CEO of OSI Systems.

Currently, OSI stock is priced at $132.46 on the Nasdaq, showing no changes in pre-market trading.