Symax Lift (Holding) Co. Ltd.

Symax Lift (Holding) Co. Ltd.

September 19, 2013 09:00 ET

Symax Lift (Holding) Co. Ltd. Wins New Contracts Worth $5.5 Million

TORONTO, ONTARIO--(Marketwired - Sept. 19, 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 three big new contracts to supply, install and service Dingtai and Green elevators.

The three contracts represent approximately $5.50 million in revenues and deliveries are expected to be completed by the end of March 2014. All of these contracts are for domestic housing projects in eastern and southwestern China and include sales of both the Dingtai and the Green elevator models.

"We are proud of achieving remarkable sales performances in this summer. These large contracts involve sales of both our key elevator products to government-funded housing projects as well as private housing developments," said Ms. Sabrina Zhang, CEO of Symax. "These contracts again indicate the resilience of the demand for elevators in China."

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.

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