Midas bags $45m in train contracts

MIDAS Holdings, which makes aluminium parts for trains, has bagged S$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.