Symax Lift (Holding) Co. Ltd.
TSX VENTURE : SYL

Symax Lift (Holding) Co. Ltd.

January 17, 2011 09:20 ET

Symax Lift (Holding) Co. Ltd. Signed CAD$1.78 Million Contract

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2011) - Symax Lift (Holding) Co. Ltd. ("Symax") (TSX VENTURE:SYL), an assembler and manufacturer of elevators and escalators, has entered into a contract with DALIAN DING SHENG SHI YE LTD ("DING SHENG") to manufacture 110 elevators, valued at CAD$1.78 million (RMB11.9 million) for a residential development project in the city of Dalian, Liaoning Province, China.

Delivery will commence in June, 2011 and be completed by September, 2011.

Symax will also provide repair and maintenance services for a two-year period following the completion of the installation.

"Symax manufactured 24 elevator units for DING SHENG in June, 2010, we are honored to be the supplier choice of DING SHENG once again." said Xiaoyan (Sabrina) Zhang, Symax's Chief Executive Officer. "DING SHENG orders with Symax total CAD$2.18 million (RMB 14.34 million) since June, 2010 and we are looking forward to developing a longer term working relationship with them in the months to come."

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: first, 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, secondly, customized elevator products.

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

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