Symax Lift (Holding) Co., Ltd. ("Symax") (TSX VENTURE:SYL), a developer and
manufacturer of elevators and escalators with a manufacturing base in China, is
pleased to announce that it will set up a new manufacturing facility in Wanzhou,
Chongqing, China. 


Symax recently completed a Land Use Purchase Agreement with the local government
in Wanzhou. As a result, development of the manufacturing facility for this
project is now ready to proceed. The project involves the development of three
production lines in three stages, with production lines to be constructed in
each of 2011, 2012 and 2013. Construction will commence in November 2011 and end
in August 2013. Once all three elevator production lines are installed, capacity
will reach 4000 elevator units per year. The total investment will be $10
million and the first line is expected to be put into production in June, 2012.


The setup of the Wanzhou manufacturing plant will allow Symax to better serve
the booming Western China elevator market. This market represents 35% of the
Chinese population and includes Chongqing and another 6 provinces. In Wanzhou
City alone, there are 107.5 million square feet of housing development projects
to be constructed in the next five years, representing elevator demand of more
than 5000 units alone. 


"This is an important milestone for our Company allowing us to substantially
expand into the Western China elevator market," said Xiaoyan (Sabrina) Zhang,
Symax's CEO. "This project will significantly enhance our competitiveness in
these markets and across China generally. Our capability to serve our current
and future customers in Western China will improve. We will be even better
positioned to deliver quality products together with timely delivery of
installation and maintenance services."


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.