Following successful Tour de France, Cannondale
significantly beefs up partnership with Brixia Sport to become
title sponsor
Team poised to continue its winning streak on the
innovative and race proven Cannondale SuperSix EVO the "Best Bike
in the World"
EXCHANGES
TSX: DII.B, DII.A
BETHEL, CT,
Sept. 20, 2012 /PRNewswire/ -
Cannondale, a premium brand of Dorel Industries (TSX: DII.B DII.A),
announced today that it is significantly increasing its investment
with Brixia Sport to become the title sponsor of their pro cycling
team, newly named "Cannondale Pro Cycling Team." The relationship
is effective January 1, 2013. For
2013 and beyond, Cannondale and the team will focus on the
development of a young stable of incredible talent including
Peter Sagan, the winner of the Green
Jersey at the 2012 Tour de France, Moreno
Moser and Elia Viviani. These
riders will, in turn, be guided by committed veterans like
Ivan Basso.
"Cannondale is excited to partner with Brixia
Sport to be the title sponsor of the Cannondale Pro Cycling Team.
Innovation leadership is part of our DNA. For the past six years,
it has been a thrill to watch the team push their limits on our
bikes as we push the boundaries on what those bikes can do," said
Bob Burbank, General Manager,
Cannondale. "With the title sponsorship, our dealers and consumers
can expect to see us really challenge the status quo and develop
programs and opportunities that demonstrate our continued
commitment to professional cycling in new and exciting ways that
will be undeniably Cannondale."
Cannondale began its relationship with the team
in 2007 as the technical sponsor for the Liquigas Pro Cycling Team.
In January of 2010, Cannondale became a co-sponsor of the
Liquigas-Cannondale Team. Since 2007, the team has won: three Grand
Tours including the Giro d'Italia in 2007 and 2010 and the Vuelta a
Espana in 2010; two Tour de France jerseys, including the 2009
Polka Dot and the 2012 Green Jersey; and, countless prestigious
individual races.
Throughout the relationship, the team has ridden
the race-proven line of Cannondale road bikes including the
SuperSix, Slice, Slice RS, Synapse and the recently named "Best
Bike in the World" SuperSix EVO Ultimate.
"Fans of the sport and Cannondale can expect to
see one of the world's best race team riding on the most exciting
bikes available," said Burbank. "It's truly a partnership in
innovation and excellence."
"We are incredibly pleased with Cannondale's
decision to continue and increase its partnership with the team,"
said Paolo Zani, President, Brixia
Sport. "We share the same goal of furthering a sports project that
has produced exciting results in recent years. We are convinced
that the Cannondale Pro Cycling Team will be one of the most
competitive teams in international cycling. Combining the Italian
tradition of cycling with the naturally innovative spirit of a
brand like Cannondale will initiate the genesis of an international
team that will always be a main contender wherever it
competes."
Website link:
http://www.cannondale.com/pro-cycling
Profile
Dorel Industries Inc. (TSX: DII.B, DII.A) is a world class
juvenile products and bicycle company. Now in its 50th
year, Dorel creates style and excitement in equal measure to
safety, quality and value. The Company's lifestyle leadership
position is pronounced in both its Juvenile and Bicycle categories
with an array of trend-setting products. Dorel's powerfully branded
products include Safety 1st, Quinny, Cosco, Maxi-Cosi
and Bébé Confort in Juvenile, as well as Cannondale, Schwinn, GT,
Mongoose, IronHorse and SUGOI in Recreational/Leisure. Dorel's Home
Furnishings segment markets a wide assortment of both domestically
produced and imported furniture products, principally within
North America. Dorel has annual
sales of US$2.4 billion and employs
5,000 people in facilities located in twenty-two countries
worldwide.
Caution Regarding Forward Looking
Statements
Certain statements included in this press release may constitute
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. Except as may be required by
Canadian securities laws, Dorel does not undertake any obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Forward-looking statements, by their very nature, are subject to
numerous risks and uncertainties and are based on several
assumptions which give rise to the possibility that actual results
could differ materially from Dorel's expectations expressed in or
implied by such forward-looking statements and that the objectives,
plans, strategic priorities and business outlook may not be
achieved. As a result, Dorel cannot guarantee that any
forward-looking statement will materialize. Forward-looking
statements are provided in this press release for the purpose of
giving information about Management's current expectations and
plans and allowing investors and others to get a better
understanding of Dorel's operating environment. However, readers
are cautioned that it may not be appropriate to use such
forward-looking statements for any other purpose.
Forward-looking statements made in this press
release are based on a number of assumptions that Dorel believed
were reasonable on the day it made the forward-looking statements.
Factors that could cause actual results to differ materially from
the Company's expectations expressed in or implied by the
forward-looking statements include: general economic conditions;
changes in product costs and supply channel; foreign currency
fluctuations; customer and credit risk including the concentration
of revenues with few customers; costs associated with product
liability; changes in income tax legislation or the interpretation
or application of those rules; the continued ability to develop
products and support brand names; changes in the regulatory
environment; continued access to capital resources and the related
costs of borrowing; changes in assumptions in the valuation of
goodwill and other intangible assets and subject to dividends being
declared by the Board of Directors, there can be no certainty that
Dorel's Dividend Policy will be maintained. These and other risk
factors that could cause actual results to differ materially from
expectations expressed in or implied by the forward-looking
statements are discussed in Dorel's annual MD&A and Annual
Information Form filed with the applicable Canadian securities
regulatory authorities. The risk factors outlined in the previously
mentioned documents are specifically incorporated herein by
reference.
Dorel cautions readers that the risks described
above are not the only ones that could impact it. Additional risks
and uncertainties not currently known to Dorel or that Dorel
currently deems to be immaterial may also have a material adverse
effect on our business, financial condition or results of
operations. Given these risks and uncertainties, investors should
not place undue reliance on forward-looking statements as a
prediction of actual results.
Except as otherwise indicated, forward-looking
statements do not reflect the potential impact of any non-recurring
or other unusual items or of any dispositions, mergers,
acquisitions, other business combinations or other transactions
that may be announced or that may occur after the date hereof. The
financial impact of these transactions and non-recurring and other
unusual items can be complex and depends on the facts particular to
each of them. Dorel therefore cannot describe the expected impact
in a meaningful way or in the same way Dorel presents known risks
affecting the business.
SOURCE DOREL INDUSTRIES INC.
Image with caption: "Cannondale Pro Cycling team logo (CNW
Group/DOREL INDUSTRIES INC.)". Image available at:
http://photos.newswire.ca/images/download/20120920_C7248_PHOTO_EN_17992.jpg