BEIJING, Feb. 4 /PRNewswire-Asia-FirstCall/ -- 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 its high-speed railway signaling systems have
successfully completed commissioning for the trial operation of the
Zhengzhou-Xian high-speed railway line, which is officially scheduled for
commercial operation on February 6, 2010. The trial operation marked the
505km journey in 1 hour and 48 minutes at a speed of up to 352 km/h.
Hollysys was contracted to design, manufacture, and install its high-speed
railway signaling products for the Zhengzhou-Xian railway line through two
successive contracts, totaling to contract value of USD $37 million, or
approximately 254 million RMB, including both the ground-based Train Control
Centers (TCC) that are stationed along the railway lines, and the train-based
Automatic Train Protections (ATP) that are installed on both fronts of the
passenger trains. Hollysys' state-of-the-art high-speed railway signaling
systems are deployed as a pivotal component for China's high-speed passenger
railways with a designed running speed between 200 km/h to 350 km/h, ensuring
operational safety of the high-speed traffic.
Dr. Changli Wang, CEO of Hollysys, commented, "We are very excited to
announce the successful trial operation of our high-speed railway signaling
systems for the Zhengzhou-Xian high-speed railway line, which is scheduled for
commercial operation right before the Chinese New Year railway transport peak.
Having our state-of-the-art automation and control systems installed for one
of the world's fastest running high-speed rail lines is a further validation
of our leading play in this exciting market segment in China. The
Zhengzhou-Xian high-speed railway line is the second high-speed railway line
launched in China that falls in the higher railway traveling speed category of
300 to 350 km per hour. As China continues to stay on track in achieving its
13,000 km high-speed railway build-out target by 2012, we expect the high-
speed railway business unit to be the main growth driver of our business for
the years to come. Hollysys will continue to leverage on its strong
technological platform to further penetrate China's rail market, both in
national and city rail segments, to increase long-term returns for our
shareholders."
About Hollysys Automation Technologies, Ltd.
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 2,100 employees with
9 sales centers and 13 service centers in 21 cities in China and serves over
1700 customers in the industrial, railway, subway & nuclear industries. Its
proprietary technologies are applied in product lines including Distributed
Control System (DCS) and Programmable Logic Controller (PLC), high-speed
railway Train Control Center (TCC) and Automatic Train Protection (ATP),
subway supervisory and control platform (SCADA), and nuclear conventional
island automation and control products. Hollysys is the largest SCADA systems
supplier to China's subway automation market, and is the only certified
domestic automation control systems provider to the nuclear industry in China.
Hollysys is also one of only five automation control systems and products
providers approved by China's Ministry of Railways in the 200-250kph
high-speed rail segment, and is one of only two automation control systems and
products providers approved in the 300-350kph high-speed rail segment.
About Zhengzhou-Xian High-Speed Railway
The Zhengzhou-Xian Passenger Dedicated Line is a high-speed railway line
connecting Zhengzhou, the capital city of Henan province, with Xian, the
capital city of Shaanxi province. The line is designed for a traveling speed
of up to 350 kilometers per hour. Construction work began on September 25,
2005, the railway is scheduled to be opened for service on February 6, 2010.
The main line is 505 km long, with another 30 km extension connecting existing
Longhai Railway from Xi'an North to Xianyang West. 10 railway stations are
built along the line: New Yingyang, New Gongyi, Luoyang South, New Mianchi,
Sanmenxia South, New Lingbao, New Huashan, New Weinan, New Lintong, and Xi'an
North.
Safe Harbor
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 impact of the event on the
Company's business and operations; 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 more information, please contact:
Hollysys Automation Technologies, Ltd.
http://www.hollysys.com
Jennifer Zhang
Investor Relations
Tel: +86-10-5898-1386
Email: investors@hollysys.com
Serena Wu
Investor Relations
Tel: +1-646-593-8125
Email: serena.wu@hollysys.com
SOURCE Hollysys Automation Technologies, Ltd.