Midas Holdings unit clinches contracts worth 151.7m yuan
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MAINBOARD-listed Midas Holdings' subsidiary Jilin Midas Aluminium Industries has secured contracts worth 151.7 million yuan (S$32 million) for the supply of high-speed train car body components.
The new contracts will see Jilin Midas supply aluminium alloy extrusion profiles and certain fabricated parts for high-speed trains. Slated for delivery in 2014 and 2015, these contracts are expected to contribute positively to Midas's financial performance for the financial years ending Dec 31, 2014 and 2015. The contracts were awarded by CNR Changchun Railway Vehicle Co Ltd.
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