Savaria Announces Management Change

LAVAL, Québec, June 01, 2020 (GLOBE NEWSWIRE) — Savaria Corporation (“Savaria”) (TSX: SIS) one of the global leaders in the accessibility industry, today announced that to create a more centralized operations team, Savaria will move the CFO function to Brampton, Ontario, home of its core North American manufacturing facility and the home base for the Corporation’s CEO and VP of Operations. As a result of this decision, Laval-based CFO, Mauro Ferrara will be leaving Savaria effective August 21, 2020.

“I wish to thank Mr. Ferrara for his contributions to Savaria and wish him success in his future endeavours. While our accounting headquarters will remain in Laval, Québec, our desire to focus on operational strategies in Ontario and in other manufacturing facilities is consistent with our desire to grow and constantly improve efficiencies,” declared Marcel Bourassa, President and Chief Executive Officer of Savaria.

Mr. Ferrara said, “I would like to thank all of my colleagues, as well as Marcel Bourassa, for my time at Savaria. Savaria is a well-run corporation, with a noble cause and a great product offering, that will undoubtedly be even more well positioned post COVID-19 crisis.”

About Savaria Corporation

Savaria Corporation (savaria.com) is one of the global leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients. In addition, Savaria converts and adapts vehicles to be wheelchair accessible. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (Switzerland, Germany, Italy, Czech Republic, Poland and United Kingdom), Australia and China. Savaria employs approximately 1,450 people globally and its plants are located across Canada in Laval and Magog (Québec), Brampton, Beamsville and Toronto (Ontario) and Surrey (British Columbia), in the United States at Greenville (South Carolina), in Huizhou (China), in Milan (Italy) and in Newton Abbot (United Kingdom).