Midas Holdings secure deals in Europe, China to supply train parts

Midas Holdings' subsidiary, Jilin Midas Aluminium Industries Co, has secured 17.7 million euros (S$30 million) worth of international contracts for two major train projects in Europe and 75.9 million yuan (S$15.5 million) worth of metro orders for the China market.

The two international contracts will see Midas supply aluminium alloy extrusion profiles and certain fabricated parts for two major train projects in Europe with delivery expected to take place between 2013 and 2017.

The China contracts were awarded by the group's 32.5 per cent owned joint-venture company, Nanjing SR Puzhen Rail Transport Co.

The first contract, worth 10.8 million yuan, is for the supply of aluminium alloy extrusion profiles for 56 train cars to the Shenzhen Metro Line 4 project.

Delivery for this contract is expected to take place progressively from 2013 to 2014.

The second contract, worth 19.6 million yuan, is for the supply of aluminium alloy extrusion profiles and certain fabricated parts for 26 train sets, or 104 train cars, for the Ningtian Intercity Line 1 project.

The third contract, worth 35 million yuan, is for the supply of aluminium alloy extrusion profiles and certain fabricated parts for 29 train sets, or 174 train cars, for the Nanjing Metro Line 4 project.