This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hollysys Automation Technologies To Provide The Complete Suite Of High-speed Rail Signaling Systems To Guangzhou-Shenzhen-Hong Kong Express Rail Hong Kong Section Valued At US $63.15 Million

BEIJING, March 20, 2012 /PRNewswire-Asia-FirstCall/ -- Hollysys Automation Technologies, Ltd.  (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation, control technologies and applications in China, announced today that it has successfully won contracts to design, supply and implement the High-Speed Rail Signaling Systems for the MTR Corporation. These contracts are primarily to implement the Hong Kong Section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL).  The contracts are valued at approximately HK $489.9 million, or US $63.15 million.

Pursuant to the terms of the contracts, Hollysys will design, supply and implement both the on-board signaling equipment Automatic Train Protection (ATP), and the ground-based high-speed rail signaling equipment and systems including the Train Control Center (TCC), Lineside Electronic Unit (LEU), Vital Data Network, Interlocking System, Centralized Traffic Control (CTC), track circuit and auxiliary products, and provide related services for the Hong Kong section of the XRL connecting the West Kowloon Terminus in Hong Kong and Huangguan in Shenzhen which is 26 km in length, with a design line speed of 200km/h. The project is scheduled to be completed in 2015.

Hollysys has a highly reliable, proven and mature High-Speed Rail Signaling Technology and a successful track record in delivery and implementation on a number of high-speed rail lines including the Zhengzhou-Xian Line, Guangzhou-Shenzhen Line, Beijing-Shijiazhuang-Wuhan Line and Qinhuangdao-Shenyang Line, etc.

Dr. Changli Wang, CEO and Chairman of Hollysys, commented: "We feel very humble, honored and excited to win these contracts especially from such a reputable client as MTR given the stiff competition from other world class signaling system providers. This is a strong validation of our proven world class technology and it's recognition by MTR. This contract is of paramount importance as it is our first-ever international contract for our high-speed rail signaling system and marks a significant breakthrough and remarkable milestone achievement in steering our business to the next level in the global arena. "

"With the successful Safety certification in accordance with International Standards for our Signaling products and system, we will continue to leverage on our strong commitment to Research & Development and our implementation capability to further grow and strengthen our company. We will continue to explore the opportunities in international high-speed rail, subway and industrial automation sectors to provide our propriety products and systems and build Hollysys into a leading world class automation technology company through stable and sustainable growth, and continue to create value for our shareholders."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs