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Business/Financial

Albania Pulling Out Of Turnkey Screening Services Project With Rapiscan, Firm Says

By Cal Biesecker

Tuesday, August 26th, 2014

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Albania Pulling Out Of Turnkey Screening Services Project With Rapiscan, Firm Says

As part of its turnkey screening services model, Rapiscan uses its cargo and vehicle inspection systems for screening at ports and borders. Photo: OSI Systems

The election of a new government in Albania has led to the halt of Rapiscan’s 15-year turnkey screening services contract announced last year and the project is in doubt moving forward, Deepak Chopra, president and CEO of OSI Systems [OSIS], told investors. The program in Albania was ahead of schedule and going smoothly, but the new government “has halted further progress on the contract and put into doubt the continuation of the program,” Chopra said during the company's fourth quarter…

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