LAVAL, Quebec, May 15, 2023 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS), a global leader in the accessibility industry, is pleased to announce the appointment of Sébastien Bourassa to the position of Chief Operating Officer effective May 15, 2023.
In this newly created role, Mr. Sébastien Bourassa will lead the daily global operations of the corporation including its 17 facilities for manufacturing and distribution in North America, Europe, China and Mexico. He will focus on the continued optimization of manufacturing operations and procurement activities, two core initiatives for Savaria that enhance integration synergies from key acquisitions made by the corporation in recent years. He will oversee all business segments to help meet sales and profitability targets, as well as help ensure that strategic initiatives are communicated and implemented across all divisions of Savaria, promoting a teamwork culture.
“Sébastien got his start at Savaria over 25 years ago with hands-on installations of our products. Progressively working in more senior roles, he has always been willing to go where he has been needed. In 2007, he had a vision to open a factory in China and he knew the best way to do that was to be there himself, so he moved there for seven years to lead our successful Savaria Huizhou operation. In 2022, he headed up the initiative for Savaria Mexico and had this new assembly facility up and running in about seven months. I am confident in Sébastien’s abilities, experience and dedication to Savaria.” declared Mr. Marcel Bourassa, President and Chief Executive Officer of Savaria.
Mr. Sébastien Bourassa holds a BBA from HEC Montréal and an EMBA from Ivey Business School in Hong Kong. His previous role at Savaria was Vice President of Operations and Integration.
About Savaria Corporation
Savaria Corporation (savaria.com) is a global leader 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, including ceiling lifts and slings. In addition, Savaria converts and adapts vehicles for personal and commercial uses. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China. Savaria employs approximately 2,250 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.
Forward-Looking Statements
This press release includes certain statements that are “forward-looking statements” within the meaning of the securities laws of Canada. Any statement in this press release that is not a statement of historical fact may be deemed to be a forward-looking statement. When used in this press release, the words “believe”, “could”, “should”, “intend”, “expect”, “estimate”, “assume” and other similar expressions are generally intended to identify forward-looking statements. It is important to know that the forward-looking statements in this document describe the Corporation’s expectations as at the date hereof, which are not guarantees of future performance of Savaria or its industry, and involve known and unknown risks and uncertainties that may cause Savaria’s or the industry’s outlook, actual results or performance to be materially different from any future results or performance expressed or implied by such statements. The Corporation’s actual results could be materially different from its expectations if known or unknown risks affect its business, or if its estimates or assumptions turn out to be inaccurate.
A change affecting an assumption can also have an impact on other interrelated assumptions, which could increase or diminish the effect of the change. As a result, the Corporation cannot guarantee that any forward-looking statement will materialize and, accordingly, the reader is cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements do not take into account the effect that transactions or special items announced or occurring after the statements are made may have on the Corporation’s business. For example, they do not include the effect of sales of assets, monetizations, mergers, acquisitions, other business combinations or transactions, asset write-downs or other charges announced or occurring after forward-looking statements are made.
Unless otherwise required by applicable securities laws, Savaria disclaims any intention or obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing risks and uncertainties include the risks set forth under “Risks and Uncertainties” in Savaria’s latest Annual MD&A as well as other risks detailed from time to time in reports filed by Savaria with securities regulators in Canada.
For further information:
Marcel Bourassa
President and Chief Executive Officer
1.800.661.5112
mbourassa@savaria.com
www.savaria.com
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