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Midas bags $29.4 million Russian contract
Edited by : AL CIRCLE
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A subsidiary of Midas Holdings has won a 22.7 million euro (US$29.35 million) contract to supply aluminium-alloy extrusion profiles to the Russian railway market, the group said on Tuesday.
The deal was sealed between Jilin Midas Aluminium Industries and Ural Locomotives, a joint-venture company between Siemens AG and Russia's Sinara Group.
Delivery for the contract is to take place progressively from this year to 2019.
Midas said the contract is expected to contribute positively to the group's financial performance for the financial years ending 2013 to 2019.
The deal was sealed between Jilin Midas Aluminium Industries and Ural Locomotives, a joint-venture company between Siemens AG and Russia's Sinara Group.
Delivery for the contract is to take place progressively from this year to 2019.
Midas said the contract is expected to contribute positively to the group's financial performance for the financial years ending 2013 to 2019.
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