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Savaria Corporation: Savaria Corporation: Commencement of French Translation of Issuer Bid for Shareholders

^{Published on 2009-07-09 04:10:51, Last Modified on 2009-07-09 04:11:00 - Market Wire}
 

LAVAL, QUEBEC--(Marketwire - July 8, 2009) - Savaria Corporation ("Savaria" or the "Corporation") (TSX:SIS), the second largest company in the accessibility industry in North America, today announced that its offer for up to 4,000,000 common shares of the Corporation (14.8% of the issued and outstanding common shares) at a price of C$0.90 per share ("Issuer Bid') is currently being translated into French and will be mailed to Savaria's Quebec shareholders upon completion.

In order to allow all Savaria shareholders sufficient time to properly evaluate the Issuer Bid, the Issuer Bid will be extended for at least 35 days following the mailing of the French language Issuer Bid offering documents. A formal notice of extension of the Issuer Bid will be delivered to all Savaria shareholders at the appropriate time.

Savaria Corporation ([ www.savariaconcord.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. 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 60% of its sales outside Canada and employs some 400 people.