Jilin Midas clinches three contracts for supply of aluminium alloy extrusion profiles & fabricated parts

Midas Holdings Limited‘s subsidiary Jilin Midas Aluminium Industries Co., Ltd has secured  three supply contracts from customers in the People’s Republic of China . The combined value of high speed train contracts is RMB184.4 million.

CRRC Tangshan Co. has given the first two contracts worth RMB32.8 million and RMB81.9 million separately.  The contracts involve the supply of aluminium alloy extrusion profiles and fabricated parts for two types of high speed trains.

CRRC Changchun Railway Vehicles Co., Ltd has the third contract worth RMB69.7 million and involves the supply of aluminium alloy extrusion profiles and fabricated parts for high speed trains.

Mr. Patrick Chew, Executive Director and Chief Executive Officer of Midas, said, “The latest high speed train contract wins highlight the recognition by the market for the Group’s manufacturing capabilities in aluminium alloy extruded products and services.”

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The three contracts are slated for delivery in 2017. The contracts are likely to contribute positively to the Group's financial performance for the current financial year.

In May this year, the company secured 13 PRC and international supply contracts with combined value of RMB520.9 million for the projects in Canada, the United States, Saudi Arabia, Italy, Holland, Germany and China.