Symax Lift (Holding) Co. Ltd. Awarded CAD$5.1 Million Contract
June 21 2010 - 8:00AM
Marketwired
Symax Lift (Holding) Co. Ltd. ("Symax" or the "Company") (TSX
VENTURE: SYL), a China based assembler and manufacturer of
elevators and escalators, today reported that the Company has
entered into a contract with Wuxi Tai Hu Jia Yuan Property
Development Co Ltd. (the "Client") to manufacture and install 191
elevators, for a government funded residential development project,
valued at CAD$5.1 million (RMB 33.83 million).
Delivery and installation will commence in July 2010 and be
completed by December 31, 2010.
Symax will also provide repair and maintenance services to the
Client for a three-year period following the completion of
installation, as part of the contract deliverables.
"We are very pleased to enter into this contractual arrangement
with Wuxi Tai Hu Jia Yuan Property Development Co Ltd., as their
supplier of choice, and look forward to a great working
relationship with them in the months to come," said Xiaoyan
(Sabrina) Zhang, Chief Executive Officer. "Our continued sales
efforts are expected to generate similar opportunities which will
benefit both the Company and its shareholders, as we focus on
revenue and earnings growth."
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.
Contacts: Spinnaker Capital Markets Inc. Ali Mahdavi +1
416-962-3300 ext. 225 am@spinnakercmi.com Symax Lift (Holding) Co.
Ltd. Ming (Barry) Sheng +1 604-601-8224 barry.sheng@symax.ca