Hanwha Techwin wins security system supply deal in Egypt

This photo, provided by Hanwha Techwin Co. on Tuesday, shows officials from Hanwha Techwin and Banha posing for a photo after signing a deal in Egypt. (Yonhap)

Hanwha Techwin Co., a surveillance tech firm in South Korea, said Tuesday it has signed a deal with the Egyptian government to supply security solutions for its state-run projects.

Under the deal with the Ministry of Military Production in Egypt, the company will set up security systems in some 10 cities, which includes surveillance camera installments in major facilities. The value of the deal was not disclosed.

Hanwha Techwin said some of its products will be manufactured by Egyptian electronics firm Banha and will help the company to secure more deals from Egypt in the future.

Hanwha Techwin, an affiliate of Hanwha Aerospace Co., entered the Middle East and Africa (MEA) market in 2012. Last year, its MEA business unit collected around $35 million in sales.

The company is one of the world's leading closed-circuit television camera makers with its own system chip developed for better picture quality. Last year, it released the industry's first CCTV with 8K resolution. (Yonhap)