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Hollysys Automation Technologies announces a Significant High-Speed Rail Signaling Contract Win Valued at US$ 95 Million

Tuesday, Feb 03, 2015

Hollysys Automation Technologies, Ltd., a leading provider of automation and control technologies and applications in China, announced today that it signed a significant contract to provide Automatic Train Protection (ATP) equipment and system for 40 sets of high-speed trains in 200-250km/h and 80 sets of high-speed trains in 300-350km/h respectively, valued at approximately RMB 580 million or USD $95 million. The delivery of the products is expected to be finished by June 2015. Besides this contract award, Hollysys' management also expects another supplementary ATP contract to be signed in the near term.

The on-board signaling equipment ATP (Automatic Train Protection) works together with the ground-based signaling equipment TCC (Train Control Center), as the critical control elements in the high-speed railway signaling systems to ensure the safety and reliability of the high-speed railway operation.

Hollysys' management commented, "We feel excited about the significant high-speed rail contract win, which demonstrates our solid technology capability and key market position. In the future, Hollysys will continue to work closely with the China Railway Corporation and national railway authorities, leveraging its strong R&D capability, effective management and high-quality products and service, make more contribution to China's railway construction and explore the vast rail and subway opportunities both in China and abroad, and create value for our shareholders."

 

Source : http://finance.yahoo.com

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