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Midas clinches $64 million of contracts for train car body components

Published on Apr 7, 2014 6:11 PM

Midas Holdings said on Monday that it has won 318 million yuan (S$64.4 million) worth of contracts for high-speed train car body components worth from CNR Tangshan Railway Vehicle Company.

The deals were won by Midas subsidiary Jilin Midas Aluminium Industries Company.

Jilin Midas will supply aluminium alloy extrusion profiles and certain fabricated parts for high-speed trains that will operate at speeds up to 350 kilometres per hour.

The components are slated for delivery this year. The contracts are expected to contribute positively to Midas' financial performance for the financial year ending Dec 31 this year.

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