Savaria Corporation

Savaria Corporation
GE Money - Sales Finance

GE Money - Sales Finance

March 14, 2007 11:03 ET

Savaria and GE Money Make Accessibility Equipment More Accessible

U.S. Savaria Dealers Provide Revolving and Installment Consumer Financing

LAVAL, QUEBEC--(CCNMatthews - March 14, 2007) - GE Money's Sales Finance unit and Savaria Concord, the second largest manufacturer of accessibility equipment to facilitate mobility, today announced its relationship to provide private label revolving and installment finance options through GE's PROJECTLINE(SM) program in the United States. Savaria (TSX:SIS) and GE Money (NYSE:GE) currently offer a credit program through the manufacturer's Canadian dealers.

"We look forward to expanding our relationship with GE Money in the U.S.," says Marcel Bourassa, president and CEO of Savaria, which reported double-digit growth in 2006. "Now our distributors across all of North America can offer a comprehensive and flexible financing program to further help those looking to make their homes more comfortable and accessible."

The multi-year agreement between Savaria and GE Money is for the sale of Savaria Concord products, including stairlifts, platform lifts and residential elevators, across its North American distributor network. The company has more than 180 distributors across Canada, and over 400 in the U.S.

GE Money's approach to financing offers special promotional and everyday financing options, fast credit decisions and prompt disbursement of funds. This enables retailers to provide faster service to their customers and has been shown to stimulate sales.

"Savaria continues to grow its reputation in the accessibility industry, and we're looking forward to helping them with financing options to their customers," says Bruce Christensen, vice president and general manager, Home Improvement industry, GE Money - Sales Finance.

About Savaria

Savaria Concord Lifts, one of North America's leading accessibility companies, was founded in 1979. Savaria's mission is to provide products that facilitate mobility of all people with special needs, contributing to their well-being and quality of life.

Savaria stands behind all its products, which meet safety standard requirements for various countries around the world. With the help of a network of over 600 distributors, Savaria products are distributed in North America, South America, Europe, and Australia. Savaria manufactured over 6,000 lifts and stair lifts in 2006. The company's products contribute to a higher quality of life in homes and businesses by improving access. For more information, visit

About Sales Finance and GE Money

Sales Finance, based in Kettering, Ohio, is part of GE Money, formerly GE Consumer Finance, and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in more than 20 industries including: home improvement, sporting goods, powersports, outdoor equipment, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.

With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 50 countries around the world. GE Money, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at

GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit

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