Symax Lift (Holding) Co. Ltd. Wins New Contracts Worth $8 Million
April 23 2014 - 4:05PM
Marketwired
Symax Lift (Holding) Co. Ltd. Wins New Contracts Worth $8 Million
TORONTO, ONTARIO--(Marketwired - Apr 23, 2014) - 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
during the first quarter of 2014 it has won eight new contracts to
supply, install and service Dingtai and Green elevators.
The eight contracts represent approximately $8 million in
revenues and deliveries have commenced in April 2014. The contracts
are expected to be completed in the third quarter of 2014. Among
the eight contracts, two representing $3.5 million are for
government housing projects in Jiangsu Province in China.
"The first quarter is normally a slow period for sales, but the
first quarter of 2014 has been much stronger than the same quarter
ever before for Symax," stated Ms. Sabrina Zhang, CEO of Symax.
"With our restructured sales team and sales network, we are looking
forward to continued strong growth in 2014."
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.
Michael ZhengSkyone International Securities
Corporation416.268.6178michael.zheng@skyoneisec.comMary Ma,
CFO604.277.6678info@symax.ca