BEIJING, Jan. 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 it has commenced shipping its proprietary large-scale
industrial Distributed Control Systems (DCS) to the Guohua Taishan Power Plant
for its 1000MW (1GW) ultra-supercritical thermal power generating units. This
signifies China's first-ever deployment of domestic made large-scale DCS in
lieu of imported systems for the ultra-supercritical thermal power stations in
1000MW-level (1GW) ultra-supercritical power generating units are
currently China's largest thermal power units on single installed capacity.
This was a follow-on contract win for Hollysys, subsequent to several
successful DCS applications on 600MW thermal power station projects of Beijing
Guohua Electric Power Investment Co., Ltd. Hollysys' proprietary industrial
DCS systems are applied in the continuous manufacturing processes to provide
real-time monitoring and control for the production flow and to ensure
production reliability, efficiency and safety.
Dr. Changli Wang, CEO of Hollysys, commented, "We are very proud to be the
first domestic manufacturer to deliver our proprietary designed and
manufactured industrial DCS to China's GW-level ultra-supercritical thermal
power station. This is a strong validation of Hollysys' cutting-edge
technology and leading position in China's industrial automation and control
field. Our DCS application in the Taishan ultra-supercritical power plant is a
strategic reference project that lays a solid foundation for Hollysys to
further penetrate the high-end industrial automation marketplace, which are
still largely foreign-dominated. We attribute our current leading position in
China's industrial automation market to our strong R&D capabilities and
in-depth industry know-how. We will continue to leverage on our core
competencies to increase our market share in China's industrial automation
field across various vertical market segments."
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 Taishan Power Plant
Taishan Power Plant was constructed by Beijing Guohua Electric Power
Investment Co., Ltd., and is located in the city of Taishan in Tonggu Bay of
Guangdong Province. Phase I construction was of 5 sub-critical 600MW power
generating units, which were all put into operation by 2006. Phase II was
designed with 4 units of 1000MW ultra-supercritical power generating units.
Taishan Power Plant is expected to reach a total installed capacity of 9000MW
and will become China's largest coal-fired power plant.
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 contract 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.
SOURCE Hollysys Automation Technologies, Ltd.