HollySys announced 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"
Picture Credits: https://en.wikipedia.org/wiki/Macau_Light_Rail_Transit