Midas wins 82mn renminbi high speed train deal

Midas to supply aluminium alloy extrusion profiles, including certain fabricated parts, for 30 train sets to CNR Changchun.

Midas Holdings Limited (“Midas”) is pleased to announce that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd (“Jilin Midas”) has secured a contract worth RMB82 million from CNR Changchun Railway Vehicles Co., Ltd.

Under the terms of the contract, Jilin Midas will supply aluminium alloy extrusion profiles, including certain fabricated parts, for 30 train sets (1 train set = 8 train cars), or 240 train cars, for the “CRH5 EMU” inter-city high speed train project with speeds up to 250km/h. Delivery is expected to take place in 2011, according to a Midas report. 

Mr Patrick Chew, CEO of Midas, said, “We are honoured to be selected by CNR Changchun, our long-time customer, as a repeat supplier for the “CRH5 EMU‟ project. With our consistent track record of high quality products and services, as well as strong working relationships with our customers, we are confident that we will be able to capitalise on the PRC government‟s continued focus on railway development in the coming years.”