Midas Unit Signs New Master Agreement With Siemens
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Midas Holdings Ltd's unit, Jilin Midas Aluminium Industries Co Ltd, has signed a new master agreement with Siemens Aktiengesellschaft, Berlin und MUnchen, Sector Infrastructure & Cities, Division Rail Systems.
Under the terms of the renewed agreement, Siemens will continue to engage Jilin Midas as a preferred supplier of aluminium profiles, with the purpose of achieving standardisation and cross-project bundling in the procurement of aluminium extrusion products for railway car bodies, welding, machining and other mechanical treatment of such profiles.
Midas chief executive officer, Patrick Chew, said the company was pleased that the quality of its work delivered to Siemens over the years has contributed to the extension of the preferred supplier status.
"The latest development will also support our strategy to expand our international presence.
"Supported by our strong track record, quality products and close relationships forged with both domestic and international train manufacturers, we believe that Midas is well-positioned to capture growth opportunities both in China and the region," he said.
Midas is the leading manufacturer of aluminium alloy extrusion products for the passenger rail transportation sector in China.
