Jilin Midas awarded with aluminium-alloy supply contracts for China's high-speed and metro trains

Jilin Midas Aluminium Industries (Jilin Midas), a subsidiary of Midas Holdings, has bagged two supply contracts valued at RMB53.8m (US$8m) for high-speed trains and metro train projects in China.

One supply contract for aluminium alloy extrusion profiles and fabricated parts totalling RMB34.6m ($5.2m) has been awarded by CRRC Tangshan. The aluminium downstream products will be used for manufacturing the CRH380B high-speed trains. Jilin Midas will be completing the delivery of these components by this year end.

The second contract worth RMB19.2m ($2.9m), will see the Chinese aluminium products maker provide aluminium-alloy extrusion profiles for the Haerbin Metro Line 1. The delivery for this project is scheduled between 2016 and 2017.

"The latest high-speed rail and metro train contract wins underscore our proven track record and the quality of our products and services," said Midas' executive director and CEO Patrick Chew.  

"The Haerbin metro train project also marks our successful entry into a new geographical market in the PRC, further augmenting Midas’ market leadership position. Moving forward, we will continue to take advantage of the positive industry outlook to push forward with business development efforts and seize market opportunities both in China and regionally,” Patrick said.



A name to reckon with in the aluminium-alloy extrusion product manufacturing domain, Midas owns a 32.5 per cent stake in CRRC Nanjing Puzhen Rail Transport Co., an associate firm engaged in the manufacturing and sale of metro trains, coaches, and related component parts.