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 significant contract to provide Automatic Train Protection (ATP) equipment and system for 40 sets of high-speed trains in 200-250km/h and 80 sets of high-speed trains in 300-350km/h respectively, valued at approximately RMB 580 million or USD $95 million.
The delivery of the products is expected to be finished by June 2015. Besides this contract award, Hollysys' management also expects another supplementary ATP contract to be signed in the near term.
The on-board signaling equipment ATP (Automatic Train Protection) works together with the ground-based signaling equipment TCC (Train Control Center), as the critical control elements in the high-speed railway signaling systems to ensure the safety and reliability of the high-speed railway operation.
Hollysys' management commented, "We feel excited about the significant high-speed rail contract win, which demonstrates our solid technology capability and key market position. In the future, Hollysys will continue to work closely with the China Railway Corporation and national railway authorities, leveraging its strong R&D capability, effective management and high-quality products and service, make more contribution to China's railway construction and explore the vast rail and subway opportunities both in China and abroad, 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 3,600 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 power plant automation and control system and other products.