BEIJING, Dec. 2, 2016 /PRNewswire/ -- Hollysys
Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the
"Company"), a leading provider of automation and control
technologies and applications in China, announced today that the wholly owned
subsidiary Concord Corporation Pte. Ltd. ("Concord") signed a
significant contract with Mitsubishi Heavy Industries Ltd. ("MHI")
to supply, installation of HVAC and Electrical installation
services for Rolling Stock & System of Macau LRT phase 1
project. The contract is approximately valued at MOP 137 million,
or USD $17.17million. The project is
planned to be finished in May
2018.
Hollysys' management commented: "We are glad Concord has
successfully embarked on the Macau LRT phase 1 project. This is a
significant milestone for the company to penetrate into
Macau market particularly on
transportation segment. Hollysys will continue to accumulate brand
name throughout enormous realms, expand more markets and create
value for shareholders"
About Hollysys Automation Technologies, Ltd. (NASDAQ:
HOLI)
Hollysys Automation Technologies is a leading provider of
automation and control technologies and applications
in China that enables its diversified industry and
utility customers to improve operating safety, reliability, and
efficiency. Founded in 1993, Hollysys has approximately 3,600
employees with nationwide presence in over 60 cities in China,
with subsidiaries and offices in Singapore,
Malaysia, Dubai, India, and serves over 6,000 customers
more than 20,000 projects in the industrial, railway, subway &
nuclear industries in China, South-East Asia, and
the Middle East. Its proprietary technologies are applied in
its industrial automation solution suite including DCS (Distributed
Control System), PLC (Programmable Logic Controller), RMIS
(Real-time Management Information System), HAMS (HolliAS Asset
Management System), OTS (Operator Training System), HolliAS BATCH
(Batch Application Package), HolliAS APC Suite (Advanced Process
Control Package), SIS (Safety Instrumentation System), high-speed
railway signaling system of TCC (Train Control Center), ATP
(Automatic Train Protection), Subway Supervisory and Control
platform, SCADA (Supervisory Control and Data Acquisition), nuclear
power plant automation and control system and other products.
SAFE HARBOUR:
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact included
herein are "forward-looking statements," including statements
regarding: the ability of the Company to achieve its commercial
objectives; the business strategy, plans and objectives of the
Company and its subsidiaries; and any other statements of
non-historical information. These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
unknown risks and uncertainties. Such forward-looking statements,
based upon the current beliefs and expectations of Hollysys'
management, are subject to risks and uncertainties, which could
cause actual results to differ from the forward looking statements.
Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's reports that are filed with the
Securities and Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a
duty to update these forward-looking statements.
For further information, please contact:
Hollysys Automation Technologies, Ltd.
www.hollysys.com
+86-10-5898-1386
investors@hollysys.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/hollysys-automation-technologies-announces-concord-signed-a-significant-contract-for-macau-lrt-phase-1-project-300372010.html
SOURCE Hollysys Automation Technologies, Ltd