Symax Lift (Holding) Co., Ltd. Received $1.84 Million Purchase Order and Commenced the 800 Units Elevator Contract
May 09 2011 - 9:20AM
Marketwired
Symax Lift (Holding) Co., Ltd. ("Symax") (TSX VENTURE: SYL), a
developer and manufacturer of elevators and escalators with a
manufacturing base in China, today announced that it received a
purchase order for 77 elevators from LONGJITAIHE Industrial
Co.,Ltd. ("LONGJITAHIHE"), valued at CAD$1.84 millions (RMB12.55
millions). Delivery will commence in May, 2011 and be completed by
June, 2011.
This 77 elevator purchase order is the first order under the
strategic cooperation framework agreement (the "Agreement") signed
between Symax and LONGJITAIHE early this year. Under the
cooperation framework, Symax is expected to deliver and install 800
elevators for LONGJITAIHE's real estate projects located in the
western areas of China by April 2012. Symax will also provide
repair and maintenance services for a two-year period following the
completion of the installation as part of the initial contract.
After the two-year period Symax will charge for the repair and
maintenance services provided.
Based in Gaobeidian City, Hebei Province, China, LONGJITAIHE is
one of the leading conglomerates in the province specializing in
property development, industrial investment, commerce and trade. In
2010, LONGJITAIHE was one of the top ten real estate developers in
China.
"We are pleased to have LONGJITAIHE as one of the key partners.
This relationship allows Symax to enter the promising western
Chinese development market where demand for elevators should remain
strong," said Xiaoyan (Sabrina) Zhang, Symax's Chief Executive
Officer. "This initial order is encouraging and we look forward to
more orders 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; 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: Symax Lift (Holding) Co., Ltd. Zu (Michael) Zheng +1
416-238-5001 michael.zheng@eternefinance.com Symax Lift (Holding)
Co., Ltd. Meng (Matty) Li +1 604-601-8224 meng.li@symax.ca