BEIJING, April 26, 2013 /PRNewswire-FirstCall/ -- Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, today announced that its proprietary HOLLiAS-N Distributed Control System ("HOLLiAS-N DCS") was successfully applied to Unit 1of Ningde Nuclear Power Plant ("Ningde NPP") and went into commercial operation.
Hollysys' HOLLiAS-N DCS is one of the high-end DCS products Hollysys developed for 1GW level nuclear power plant. Hollysys' proprietary HOLLiAS-N DCS successfully passed a series of rigorous tests before the commercial operation of Unit 1 of Ningde NPP and it met all the parameters and delivered outstanding performance. Besides, it is China's first domestic proprietary 1GW DCS system application in nuclear power plants.
Hollysys' joint venture with China General Nuclear Power Corporation ("CGNPC"), China Techenergy Co., Ltd. ("CTEC"), currently has 14 nuclear reactors in their backlog which the JV has not fully signed contracts with Hollysys for HOLLiAS-N DCS providing, including Unit 1, 2, 3, 4 of Hongyanhe Nuclear Power Plant; Unit 1, 2, 3, 4 of Ningde Nuclear Power Plant; Unit 1, 2 of Fangchenggang Nuclear Power Plant; and Unit 1, 2, 3, 4 of Yangjiang Nuclear Power Plant.
Ningde NPP Unit 1 is the first commercial operated project after Japan's Fukushima nuclear power accident, it is believed of great significance for China's continuous nuclear power development, especially after the approval of <Nuclear Power Safety Plan (2011-2020)> and <Nuclear Power Mid-long Term Development Plan (2011-2020)> by the State Council of China in the end of last year.Dr. Changli Wang, Chairman and CEO of Hollysys, commented, "We are very pleased that our proprietary HOLLiAS-N DCS is successful applied in Ningde Nuclear power station, which again validates our strong technology and capability. As the leading provider of nuclear power automation and control systems in China, along with the restart of China nuclear power plants' construction, we are expecting continuous revenue inflow from nuclear power business. Going into the future, leveraging on our industry leading technology, brand name recognition, Hollysys will further penetrate China's vast industrial automation market and abroad, to create value for our shareholders."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV