BEIJING, March 18, 2013 /PRNewswire/ -- 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 it signed a contract to provide the Train Control Center (TCC) and Temporary Speed Restriction Server (TSRS) to Chongqing-Lichuan high-speed rail line. The contract is valued at approximately US $6.54 million or RMB 40.98 million.
The ground-based high-speed rail signaling system normally includes Train Control Center (TCC), Temporary Speed Restriction Server (TSRS), Line-side Electronic Unit (LEU), Balise and other auxiliary equipments. Followed by the contract win of providing LEU and Balise for Chongqing-Lichuan line in October 2012, Hollysys successfully signed this contract to provide the other portion of the ground-based signaling system for Chongqing-Lichuan line.
Chongqing-Lichuan high-speed rail line connects Chongqing city and Lichuan city in Hubei Province, which is an important portion of one of the "Four Horizontals" - Shanghai- Wuhan- Chengdu high-speed rail line. This line is expected to begin operations by the end of 2013.
Changli Wang, Chairman and CEO of Hollysys, commented: "We are pleased of winning this contract to supply our ground-based signaling system to Chongqing-Lichuan line, which is again a demonstration of our key market position in the high-speed rail field. We are expecting continuous contract awards and we believe that with our solid market position, strong R&D capability and well-reputed track records, Hollysys will continue to benefit from
China and the world's rail and subway construction, and create value for our shareholders."
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