Years ago, we used to divide the world between the US (or Western Europe, if we were located there) and ROW. ROW stood for "rest of the world" and was the slightly pompous (okay, more than slightly) way we dismissed all the countries not in the USA. Now we don't do that.
But when we did, one of the rationales we used was "they don't have any money, and when they do, we'll just move in and take it."
Of course, when China and the other ROW countries had money, they also had indigenous, home-grown competition for the US and European big boys and girls. One such is Hollysys.
Hollysys Automation Technologies is listed on the NSDAQ as HOLI. Holysis 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 3,800 employees with nationwide presence in over 60 cities in China, with subsidiaries and offices in Singapore, Malaysia, Dubai, India, and serves over 5,000 customers more than 20,000 projects 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 DCS (Distributed Control System), PLC (Programmable Logic Controller), RMIS (Real-time Management Information System), HAMS (HolliAS Asset Management System), OTS (Operator Training System), HolliAS BATCH (Batch Application Package), HolliAS APC Suite (Advanced Process Control Package), SIS (Safety Instrumentation System), high-speed railway signaling system of TCC (Train Control Center), ATP (Automatic Train Protection), Subway Supervisory and Control platform, SCADA (Surveillance Control and Data Acquisition), nuclear conventional island automation and control system and other products.
Hollysys is listed on the Control Top 50 every year, too. Large automation vendors are starting to see Hollysys as real competition.
So here's a press release from Hollysys that shows just how strong they are in China...and could be in other countries as well.
BEIJING, Sept. 25, 2013 /PRNewswire-FirstCall/ -- Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, announced that its nuclear joint venture, China Techenergy Co., Ltd. ("CTEC"), established with China General Nuclear Power Corporation ("CGNPC"), was granted a new contract to commission automation control and reactor protection system for #5 and #6 units of Yangjiang Nuclear Power Station, of which including Hollysys' proprietary Distributed Control System ("HOLLiAS-N DCS") and CTEC's proprietary reactor protection system.
Hollysys' HOLLiAS-N DCS is one of the high-end DCS products Hollysys developed for 1GW level nuclear power plant; it is also named as the "nervous system" used for the nuclear power plant operation's automatic control and operational monitoring during its running process. It requires highly for its technology complexity and reliability. Hollysys' proprietary HOLLiAS-N DCS successfully passed a series of rigorous tests and was successfully installed and operated in #1 unit of Hongyanhe and #1 unit of Ningde Nuclear Power stations and it met all the parameters and delivered outstanding performance.
In the #5 and #6 units of Yangjiang Nuclear Power Station, CTEC's proprietary reactor protection system will be installed for the first time, which is a significant breakthrough for China's proprietary nuclear automation and control technology application.
The Yangjiang Nuclear Power Station in Guangdong province is funded and constructed by a consortium of power corporations led by China General Nuclear Power Corporation. The plant is built to have six one-gigawatt (GW) pressurized water units, #5, 6 units using CGNPC's proprietary ACPR-1000 technology which is promoted based on CPR-1000 technology which was applied to #1, 2, 3, 4 units.
Dr. Changli Wang, Chairman and CEO of Hollysys, commented, "We are pleased of the continuous order flow from CGNPC to our nuclear JV for control systems and reactor protection system products. As the only qualified local automation and control technology provider to the nuclear industry in China, Hollysys will leverage the strategic alliance with the largest nuclear builder and operator in China to further penetrate the nuclear automation and control market both in China and internationally, to create value for our shareholders."
CTEC's current order book is consisted of the following fourteen reactors: #2, 3, 4 units of Hongyanhe Nuclear Power Station, #2, 3, 4 units of Ningde Nuclear Power Station, #1, 2, 3, 4, 5, 6 units of Yangjiang Nuclear Power Station, and #1, 2 units of Fangchenggang Nuclear Power Station.
