Symax Lift (Holding) Co., Ltd.

August 22, 2011 09:20 ET

Symax Lift (Holding) Co., Ltd. Received C$890 Thousand Purchase Order

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2011) - Symax Lift (Holding) Co., Ltd. ("Symax") (TSX VENTURE:SYL), a developer and manufacturer of elevators and escalators with a manufacturing base in China, today announced that it received a purchase order valued at C$890 thousand (RMB5.7 million) for residential property projects in Qufu, Shandong Province. Delivery will commence in September, 2011 and be completed in October, 2011.

This elevator purchase order is the second order Symax has received for the real estate development projects in Qufu in 2011. In January 2011, the Company received its first order, valued at C$80 thousand (RMB0.5 million) for this project. Delivery for the first order was completed in May 2011.

"This order is encouraging and reaffirms our belief that demand for elevators in tier 3 cities in China is very strong. It is also encouraging to see that Symax's first order has led to a more significant second order," said Xiaoyan (Sabrina) Zhang, Symax's Chief Executive Officer. "This again demonstrates Symax's ability to offer high quality elevators at competitive prices in these niche markets."

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.

Contact Information