Midas unit bags $17.3m of orders

SINGAPORE - A subsidiary of Midas Holdings has bagged $17.3 million worth of orders to supply components to make MRT trains.

Midas said after the close of trading on Tuesday that its subsidiary, Jilin Midas Aluminium Industries, had clinched the orders from Alstom Transport SA, a major train car maker that supplies to SMRT.

Midas will supply large-section aluminium alloy profiles, used in making body frames for new trains. It will supply the components for 108 train cars for the North East Line and 72 train cars for the Circle Line.

"Delivery is slated to take place progressively from 2013 to 2015. These orders are expected to contribute positively to the group's financial performance for the financial years ending 2013 to 2015," Midas said.

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