Midas Holdings sealed CNY44.3m metro deal

Total contract wins to date stood at CNY423.2m.

According to OCBC Investment Research, Midas Holdings (Midas) announced last evening that it has secured a CNY44.3m metro contract for the Changchun Metro Lines 1 and 2.

Here's more:

This involves the supply of aluminium alloy extrusion profiles for 44 train sets (or 264 train cars), with delivery slated to occur from 2013 to 2015.

This latest development brings total YTD contract wins by Midas to ~CNY423.2m and also illustrates the positive momentum in China’s metro
industry, given the development of new metro lines and upgrading of existing systems. We are keeping our estimates intact as our projections allow for such contract wins.