Savaria Corporation
TSX : SIS

Savaria Corporation

February 21, 2008 14:55 ET

Savaria and Vimec Team Up to Increase Their Presence in Europe and North America

LAVAL, QUEBEC--(Marketwire - Feb. 21, 2008) - Savaria Corporation (TSX:SIS), the second largest company in the accessibility industry in North America, announces a partnership with Vimec S.R.L., an industry leader in Europe. This agreement will enable Savaria to step up its product marketing in Europe and allow Vimec to begin its product marketing in North America, yielding a considerable increase in sales as of the first year for Savaria.

"We expect to increase our market share in Europe because we will offer products that are complementary to Vimec's, and we will benefit from Vimec's distribution network and the reputation of this Italian company. Also, Vimec's products will complete our line of competitively priced products," indicated Marcel Bourassa, Chairman of the Board, President and Chief Executive Officer of Savaria Corporation. "We are therefore confident that this partnership will generate important additional revenues."

"This agreement is truly advantageous for both parties," added Ettore Zoboli, Managing Director of Vimec. "Savaria is not only a dominant player, but one of the most innovative in North America which will enable us to access this market providing us with a presence beyond our expectations."

This partnership fits into Savaria's strategy of tapping the potential of the accessibility market in Europe, by offering innovative products facilitating the accessibility needs of people with mobility challenges in both the residential and commercial sector. This agreement will allow its products to be marketed in Europe under the Vimec trademark through Vimec's network. Savaria will also market Vimec's products in North America under its own trademark, Savaria Concord, through its network of 600 distributors in Canada and the United States.

Forward-Looking Statements

Certain statements in this press release may be forward-looking. Forward-looking statements involve known and unknown risks, uncertainties or other factors that may cause the Corporation's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Savaria Corporation (www.savaria.com) is Canada's leader and the second largest accessibility company in North America. The Corporation designs, manufactures and distributes products meeting the needs of people with mobility challenges, primarily stairlifts, vertical and inclined platform lifts, as well as elevators for residential and commercial use. Its sales rely on a network of some 600 retailers in North America. Savaria records approximately 60% of its sales outside Canada and employs some 350 people.

Vimec S.R.L (www.vimec.biz), established since 1980, is an italian leader with a record of continuous growth. Today, the company is a major international player present throughout Europe, Australia, Singapore, South Africa, Latin America and China. Vimec can offer a complete range of products for overcoming mobility barriers like wheelchair stairlifts, vertical platforms and mobile stair climbers, together with a full range of products dedicated to home comfort like seated stairlifts and customisable lifts distributed through its extensive network.

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