Midas

Midas: Subsi Jilin Midas Aluminium (Jilin) has entered into a new master agreement with Siemens. Under the terms, Jilin will be the preferred supplier of aluminium profiles used in products such as railway car bodies and other mechanical treatments. The master agreement also sets out the contractual framework of future contracts to be signed by the two parties, shortening the negotiation process btwn the two co for future deals. Previously, Midas was already a certified supplier to top 3 global train manufacturers, Alstom, Siemens and Bombardier. Co currently trades at 12.0x P/E compared to low of 7.4x and avg of 23.9x