Hollysys Automation Technologies Announces a SGD $6.80 Million
Contract Win by Its Singaporean Subsidiary
BEIJING, Nov. 19, 2012 /PRNewswire-FirstCall/ --
Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI)
("Hollysys" or the "Company"), a leading provider of
automation and control technologies and applications in
China, announced today that
its wholly owned subsidiary Concord Corporation Pte. Ltd.
("Concord") signed a contract with SMRT Trains Ltd in Singapore ("SMRT") to provide design,
electrification and installation service for North-South and
East-West lines ("NSEWL") stations renovation. The contract is
valued at approximately SGD $6.80
million, or USD $5.59 million,
the project will be completed within eight months.
This contract is for the renovation of NSEWL stations, and there
will be another portion regarding the depots reconstruction valued
approximately SGD $4.20 million, or
USD $ 3.45 million, which Concord is
tightly following up. Besides, the stations and depots renovation
is for the preparation of the whole lines resignaling project, this
contract win puts Concord a pole position for winning this sizable
resignaling project as well.
As per the terms of this contract, Concord Corporation is to
design, procure, install the Addition and Alteration (A&A)
Works, and to coordinate and align with SMRT to install new
signaling equipment in existing rooms like Signal Equipment Rooms,
Plant Rooms etc. at the NSEWL stations. These existing rooms have
to be renovated and fitted out with utilities such as power,
lightings, air-conditioning to meet the standards for an equipment
room as per SMRT's Technical Specifications.
Dr. Changli Wang, Chairman and
CEO of Hollysys, commented: "We are pleased to announce this
contract win and glad to see that Concord is continuously winning
new business. We believe the combination of Concord's customer base
and industry know-how with Hollysys' proprietary technology and
products will enable us to make more achievements and pave our way
to a broader market space in Southeast
Asia and the Middle East in
both industrial and rail transportation sectors, and continuously
create value for our shareholders."
About Hollysys Automation Technologies, Ltd. (NASDAQ:
HOLI)
Hollysys Automation Technologies is a leading provider of
automation and control technologies and applications in
China that enables its diversified
industry and utility customers to improve operating safety,
reliability, and efficiency. Founded in 1993, Hollysys has
approximately 3,500 employees with nationwide presence in over 60
cities in China, with subsidiaries
and offices in Singapore,
Malaysia, Dubai, India,
and serves over 4,000 customers more than 15,000 projects in the
industrial, railway, subway & nuclear industries in
China, South-East Asia, and the Middle East. Its proprietary technologies are
applied in its industrial automation solution suite including DCS
(Distributed Control System), PLC (Programmable Logic Controller),
RMIS (Real-time Management Information System), HAMS (HolliAS Asset
Management System), OTS (Operator Training System), HolliAS BATCH
(Batch Application Package), HolliAS APC Suite (Advanced Process
Control Package), SIS (Safety Instrumentation System), high-speed
railway signaling system of TCC (Train Control Center), ATP
(Automatic Train Protection), Subway Supervisory and Control
platform, SCADA (Surveillance Control and Data Acquisition),
nuclear conventional island automation and control system and other
products.
About Concord Corporation Pte. Ltd. and Its Group of
Companies
Concord Corporation Pte Ltd. and its group of companies
(Concord) is consisted of Concord Corporation Pte Ltd. and Concord
Electrical Pte Ltd. incorporated in Singapore, Concord Electrical Sdn Bhd
incorporated in Malaysia, and
CCPL's Dubai Branch Office in
United Arab Emirates. Founded in
1983, Concord engages in providing end-to-end complete
electrification related services in rail, power, semiconductor,
pharmaceutical, petrochemical, and other industrial sectors, by
working with multinational corporations such as Mitsubishi, Alstom,
Thales, Bombardier, Siemens, Areva, and ABB. Its complete
electrification related services encompass design, engineering,
procurement, project management, construction and commissioning,
and maintenance. As a established regional electrification service
provider in rail industry, Concord has successfully commissioned
signaling, power distribution, automatic train control,
communication, power rail, and other related electrical engineering
and installation works for Red and Green lines of Dubai Metro LRT
in United Arab Emirates,
Makkah-Holy Sites Rail Line in
Kingdom of Saudi Arabia, and
Circle Line Stage I, II, IV, V & Kim Chuan Depot and North East
Line of MRT System in Singapore.
Concord became a wholly-owned subsidiary of Hollysys on a cash and
stock transaction closed on July 1,
2011.
For further information, please contact:
Hollysys Automation Technologies, Ltd.
www.hollysys.com
+86-10-5898-1386
investors@hollysys.com
SOURCE Hollysys Automation Technologies, Ltd.