BEIJING, Sept. 12, 2011 /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, today provided a further update of purchases under the management stock purchase plans established by several members of the company management, led by the Chairman and CEO. As of September 12, there have been purchased an aggregate of 1,169,357 shares of Hollysys.
The Company announced on August 15, 2011, that the management persons led by Dr. Changli Wang, Chairman and CEO, had committed an aggregate of $7.5 million for purchases under the management stock purchase plans. The Company subsequently announced that as of September 6, 2011, an aggregate of 725,467 shares had been purchased under the management stock purchase plans.
Dr. Changli Wang, Chairman and CEO of Hollysys, commented: "We are pleased to announce the purchase of another 443,890 shares under the management stock purchase plans since last week's update. The continuous purchase by management members is a strong indication of our collective confidence in Hollysys' business fundamentals and growth prospects. During difficult times, we would do anything within our power to support and protect our shareholders' value. We will provide further updates on purchases made under our stock purchase plan."
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 3,500 employees with nationwide presence in over 40 cities in China, with subsidiaries and offices in Singapore, Malaysia, Dubai, India, and serves over 2000 customers 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 Distributed Control System (DCS), Programmable Logic Controller (PLC), RMIS, HAMS, OTS, and other products, high-speed railway signaling system of Train Control Center(TCC) and Automatic Train Protection (ATP), and other products, subway supervisory and control platform (SCADA), and nuclear conventional island automation and control system.
SOURCE Hollysys Automation Technologies, Ltd.