Symax Lift (Holding) Co. Ltd.

Symax Lift (Holding) Co. Ltd.

June 14, 2012 09:20 ET

Symax Lift (Holdings) Announces New Contracts

TORONTO, ONTARIO--(Marketwire - June 14, 2012) - Symax Lift (Holdings) Co. Ltd. (TSX VENTURE:SYL) ("Symax" or the "Company") is pleased to announce that it has won four big new contracts to supply, install and service over 100 elevators and several moving walkways.

The four contracts represent approximately $4.4 million in revenues and deliveries are expected before the end of September 2012. These contracts include sales of the Dingtai and the new Green elevator models for domestic housing projects in Wuxi, Shanghai and Wuhan.

"We are pleased to announce these contracts which included sales of both our Dingtai and Green elevator products to government as well as private housing projects," stated Ms. Sabrina Zhang, CEO of Symax. "These contracts 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.

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