Jun 26 2013
Hollysys Automation Technologies, Ltd. ("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 its ground-based high-speed rail signaling system to Datong-Xi'an high-speed rail line Yuanping-Xi'an section ("this section") with a designed traveling speed of 250 km/h and a total length of 678.44 km. The contract is valued at approximately US $14.72 million or RMB 90.99 million.
Pursuant to the terms of the contract, Hollysys will supply its ground-based high-speed rail signaling system, including Train Control Center (TCC), Line-side Electronic Units (LEU), Temporary Speed Restriction Server (TSRS) and other auxiliary equipments, which are expected to be delivered and installed by July 2014.
This section will start from Yuanping city, and then go through Xinzhou, Taiyuan, Linfen and Yuncheng cities and arrive in Xi'an city with 21 stations along the route. Datong-Xi'an high-speed rail line connects Datong city and Xi'an city with a total length of 859 kilometers. Upon its operation, it will shorten the travel time from 16 hours to 4 hours between the two cities.
Dr. Changli Wang, Chairman and CEO of Hollysys, commented: "We are very pleased of winning this contract to supply our ground-based high-speed rail signaling system to Datong-Xi'an line Yuanping-Xi'an section, which is again a demonstration of our key market position in China's high-speed rail build out. We believe that there will be continuous development of high-speed rail and subway network across China, given China's specific conditions and according to China's 12th Five-year Plan. With our solid market position, industry leading technology and well-reputed track records, Hollysys will continue to penetrate and take our fair share in both rail and subway sectors, and 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 5,000 customers more than 20,000 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.