(MENAFN- ProactiveInvestors)
() should trade higher after its BQT Solutions Locking division received an order for the supply of over 500 Cobalt locks for a prime office project in the Middle East.
The office accommodation in Abu Dhabi is for a Saudi Arabian Bank and is the first of two buildings to be constructed on the site.
MaxSec is receiving steadily increasing inventory orders for the new Cobalt locks from distribution partners and this order represents the first major project order for MSP's revolutionary electric lock.
The company expects that project requirements for the Cobalt range will increase in the future as more users discover the benefits of the technology.
MaxSec's Cobalt range of motorized locks address the two biggest issues with electric locking; failure to lock due to misaligned door and failure to unlock due to side load on the door.
The rotating cam action of the locking pins on these products resolves both of these issues.
Earlier this month MaxSec was appointed a preferred Biometric Smart Card Reader Supplier to Wells Fargo Bank (NYSE:WFC).
Wells Fargo holds USD1.6 trillion in assets and is the world’s biggest bank by market capitalisation valued at US$260 billion.
The supply of products will be on an order basis and MaxSec has begun receiving orders through Wells Fargo’s appointed System Integrators.
MaxSec is capitalised at around $11 million.
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