Symax Lift (Holding) Co. Ltd.

Symax Lift (Holding) Co. Ltd.

June 27, 2011 09:20 ET

Symax Lift (Holding) Co. Ltd Receives 24 Unit Elevator Purchase Order for Algerian Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2011) - Symax Lift Holding Co. Ltd. ("Symax" or the "Company") (TSX VENTURE:SYL), a developer, manufacturer and servicer of elevators and escalators globally with a manufacturing base in China, today announced that it has received a purchase order for 24 elevators, valued at CAD$452,000 (RMB2.99 millions), for government sponsored housing development projects located in Algiers in the Democratic People's Republic of Algeria. The delivery of this order will be made in July, 2011.

This is the third order Symax has received for Algerian projects since 2009. At the end of 2009, the Company received its first purchase order for more than 10 elevators for Algerian government funded housing development projects; in 2010, Symax supplied and installed a machine-room-less elevator in the Algerian Presidential Palace. With its initial order in 2009, Symax became the first Algerian qualified elevator supplier from China, and currently is one of the leading elevator suppliers in Algeria.

"We are honored to be the supplier choice of the Algerian government sponsored housing development projects once again," said Xiaoyan (Sabrina) Zhang, Symax's Chief Executive Officer. "This is encouraging and marks the increasing acceptance of Symax's products in the booming African markets. We are looking forward to developing further relationships with more international clients."

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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