Symax Lift (Holding) Co. Ltd.

Symax Lift (Holding) Co. Ltd.

June 21, 2010 08:00 ET

Symax Lift (Holding) Co. Ltd. Awarded CAD$5.1 Million Contract

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Symax Lift (Holding) Co. Ltd. ("Symax" or the "Company") (TSX VENTURE:SYL), a China based assembler and manufacturer of elevators and escalators, today reported that the Company has entered into a contract with Wuxi Tai Hu Jia Yuan Property Development Co Ltd. (the "Client") to manufacture and install 191 elevators, for a government funded residential development project, valued at CAD$5.1 million (RMB 33.83 million).

Delivery and installation will commence in July 2010 and be completed by December 31, 2010.

Symax will also provide repair and maintenance services to the Client for a three-year period following the completion of installation, as part of the contract deliverables.

"We are very pleased to enter into this contractual arrangement with Wuxi Tai Hu Jia Yuan Property Development Co Ltd., as their supplier of choice, and look forward to a great working relationship with them in the months to come," said Xiaoyan (Sabrina) Zhang, Chief Executive Officer. "Our continued sales efforts are expected to generate similar opportunities which will benefit both the Company and its shareholders, as we focus on revenue and earnings growth."

About Symax Lift (Holding) Co. Ltd.

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.

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