Symax Lift (Holdings) Co. Ltd. Announces Third Quarter 2013 Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/29/13 -- Symax Lift (Holdings) Co. Ltd. (TSX VENTURE: SYL) ("Symax" or the "Company") announces its financial results for the three-month period ending September 30, 2013.
Highlights
"Sales growth in the third quarter reached our expectation, and the growth is expected to continue in the fourth quarter. In addition, the development of the Symax stairlift products is proceeding as anticipated," stated Ms. Sabrina Zhang, CEO of Symax. "We look forward to realizing higher revenues and tightening our costs to deliver improved bottom line results for the year of 2013."
SUMMARY FINANCIAL STATEMENTS
Expansion Initiatives
Symax has undertaken an expansion of its domestic Chinese business with a new manufacturing facility located in Wanzhou. The land use rights for this facility have been acquired and construction commenced in June, 2012. Upon completion, this facility is expected to double the Company's production capacity by 2014.
The Company has also undertaken an expansion of its service network in support of its geographic expansion. As of September, 2013, the Company set up 12 sales and services centers throughout the whole China and completed the Company's sales network restructure.
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; first, 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 second, 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.
Contacts:
For Corporate Information:
Skyone International Securities Corporation
Michael Zheng
416.268.6178
Mary Ma
CFO
604.277.6678
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Unternehmensinformation / Kurzprofil:
Datum: 29.11.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 321284
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Machinery & Tools
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