Savaria Corporation
TSX : SIS

Savaria Corporation

July 14, 2008 17:23 ET

Savaria No Longer to Acquire Atlas

LAVAL, QUEBEC--(Marketwire - July 14, 2008) - Savaria Corporation (TSX:SIS) ("Savaria"), the second largest company in the accessibility industry in North America announces that, with the consent of the shareholders of Les Escalateurs Atlas (1991) Inc. ("Atlas"), it no longer intends to proceed with its previously announced acquisition of Atlas due to a re-evaluation by the two parties of the expected synergies.

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 Savaria'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.savariaconcord.com) is Canada's leader and the second largest accessibility company in North America. Savaria designs, manufactures and distributes products meeting the needs of people with mobility challenges, consisting principally of stairlifts, vertical and inclined platform lifts, as well as elevators for residential and commercial use. Through its subsidiary Van-Action (2005) Inc., Savaria also converts and adapts automotive vehicles for the disabled. Its sales rely on a network of some 600 retailers in North America. Savaria records approximately 55% of its sales outside Canada and employs some 400 people.

Contact Information

  • Savaria Corporation
    Marcel Bourassa
    Chairman of the Board, President and Chief Executive Officer
    1-800-931-5655
    or
    Savaria Corporation
    Helene Bernier, CA
    Vice-President, Finance
    1-800-931-5655
    www.savariaconcord.com