Savaria Corporation

Savaria Corporation

March 27, 2007 13:57 ET

Savaria Corporation Announces Amendment of Normal Course Issuer Bid

LAVAL, QUEBEC--(CCNMatthews - March 27, 2007) - Savaria Corporation (TSX:SIS), the second largest company in the accessibility equipment industry in North America today announced that its normal course issuer bid is increased to 1,400,000 shares , representing approximately 4.7% of the number of common shares issued and outstanding as at May 15, 2006. The bid commencing on May 17, 2006 permitted Savaria Corporation to repurchase for cancellation up to 1,000,000 of the 29,633,246 common shares that were issued and outstanding as at May 15, 2006. The bid will run until the earlier of the date on which purchases under the bid have been completed and May 16, 2007.

These purchases are to be made through the facilities of the TSX in accordance with its requirements on normal course issuer bids. The price, which Savaria Corporation will pay for any common shares, will be the market price at the time of acquisition plus brokerage fees.

As of March 26th, the Issuer had purchased 835,600 common shares at an average price of $1.86 per share since the commencement of the normal course issuer bid that began May 17, 2006.

Savaria Corporation believes that the issuer bid is in its best interests and that of its shareholders.


Savaria Corporation ( 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, mainly stairlifts, vertical and inclined platform lifts, as well as elevators for residential and commercial use. Savaria annualized sales of close to $60 million rely on a network of some 600 retailers in North America. The Corporation records over 60% of its sales outside Canada and employs close to 350 people.


Certain statements may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

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