News Column

Symax Lift (Holding) Co. Ltd. Wins New Contracts Worth $5.8 Million

Apr 9 2013 12:00AM



TORONTO, ONTARIO -- (Marketwired) -- 04/09/13 -- Symax Lift (Holdings) Co. Ltd. (TSX VENTURE: SYL) ("Symax" or the "Company"), a developer and manufacturer of elevators, escalators and chairlifts with a manufacturing base in China, is pleased to announce that it has won six big new contracts to supply, install and service Dingtai and new Green elevators.

The six contracts represent approximately $5.80 million in revenues and deliveries are expected to be completed by the end of August 2013. All of these contracts are for domestic housing projects in eastern, northwestern and northeastern China and include sales of both the Dingtai and the new Green elevator models.

"We are pleased to announce these large contracts which involve sales of both our key elevator products to government-funded housing projects as well as private housing developments," said Ms. Sabrina Zhang, CEO of Symax. "These contracts indicate the resilience of the demand for elevators in China. As a medium and low speed elevator supplier, Symax has the opportunity to benefit significantly from the acceleration of urbanization plans advocated by the new Chinese leadership."

About Symax Lift Holdings

Symax is in the business of the development, manufacturing, and sale of elevators, as well as the provision of after-sales services in China and worldwide. Symax's products and services are classified into two separate offerings; a main line of standardized products which include passenger elevators, goods/freight elevators, villa elevators, panorama elevators, hospital elevators, residential and commercial escalators and moving walkways; and customized elevator products.

This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management's beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Skyone International Securities Corporation
Michael Zheng

Symax Lift (Holdings) Co. Ltd.
Mary Ma

Source: Marketwire

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