Symax Lift (Holding) Co. Ltd.

Symax Lift (Holding) Co. Ltd.

June 17, 2013 09:00 ET

Symax Lift (Holding) Co. Ltd. Wins New Contracts Worth $1.9 Million

TORONTO, ONTARIO--(Marketwired - June 17, 2013) - 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 four big new contracts to supply, install and service its Dingtai and new Green elevators.

The four contracts represent approximately $1.9 million in revenues and deliveries are expected before the end of September 2013. Among the four contracts, three are for housing projects in Jiangsu Province and one is for a housing project in Heilongjiang Province.

"We are pleased to announce these contracts which included sales of both our elevator products to government as well as private housing projects," stated Ms. Sabrina Zhang, CEO of Symax. "These contracts again represent the resilience of the demand for elevators in China in particular in the sectors of government housing and tier 2 and 3 city residential developments."

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.

Contact Information