OSI Systems Receives $600 Million Award for Cargo and Vehicle Inspection Systems
OSI Systems has announced that it has been notified of an award valued at approximately $600 million, which includes 16% value added tax (VAT), from Mexico’s Secretaría de la Defensa Nacional (SEDENA) for cargo and vehicle inspection systems and related services. Under the award, the Company is expected to provide a range of inspection systems, including the Eagle® high energy and low energy cargo inspection portals, the Carview® vehicle inspection system, and the Certscan® multi-site integration platform, to inspect trucks, buses, and cars at several Mexican customs border checkpoints at the country’s northern and southern borders. The Company also expects to support the civil works, training, and follow-on maintenance.
OSI Systems’ Chairman and CEO, Deepak Chopra, commented, “We are honored to receive this significant award and deeply appreciate the trust and confidence that SEDENA has placed in us. With our successful track record worldwide, particularly in customs and border security initiatives, we possess a profound understanding of how to effectively manage these complex projects.”
The award is subject to finalization and execution of definitive agreements. The Company excludes VAT from bookings, backlog, and revenues.