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Midas Holdings bags $45m in train contracts
Edited by : AL CIRCLE
1 min read
MIDAS Holdings, which makes aluminium parts for trains, has bagged $45 million in contracts for train projects in Europe and China.
The company said yesterday that the European contracts worth 17.7 million euros (S$30 million) are for two major train projects in Europe, with delivery expected between 2013 and 2017.
The China contracts, worth 75.9 million yuan (S$15.5 million), were awarded by Midas' 32.5 per cent-owned joint venture company Nanjing SR Puzhen Rail Transport Co. They are for metro lines - that is, non high-speed trains.
Midas chief executive Patrick Chew said in a statement that the China wins "underpin the railway industry's growth story, and is reflective of our continuing leadership position in the PRC".
The company said yesterday that the European contracts worth 17.7 million euros (S$30 million) are for two major train projects in Europe, with delivery expected between 2013 and 2017.
The China contracts, worth 75.9 million yuan (S$15.5 million), were awarded by Midas' 32.5 per cent-owned joint venture company Nanjing SR Puzhen Rail Transport Co. They are for metro lines - that is, non high-speed trains.
Midas chief executive Patrick Chew said in a statement that the China wins "underpin the railway industry's growth story, and is reflective of our continuing leadership position in the PRC".
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