Dorel Juvenile Wins Innovation Award at Global Tradeshow
Montreal, Quebec - 9/24/2013
Dorel Industries Inc.’s (TSX: DII.B; DII.A) Maxi-Cosi, the leading European brand in child safety, has won the prestigious Innovation Award with the 2Way Pearl i-Size car seat in the World of Travelling Baby category at the annual Kind + Jugend Trade Show, the world’s largest juvenile products exhibition, in Cologne Germany. The new i-Size European standard offers improved safety for children travelling rearward facing for 15 months to better protect the child’s head and neck as well as improved side impact protection.
Dorel Juvenile is the first car seat manufacturer to offer a child restraint system which meets the new i-Size European standard for increased child safety. The 2Way Pearl, a convertible (front and rear facing) car seat marketed under Dorel’s leading brands, Maxi-Cosi and Bébé Confort, will be on European retailer shelves next month.
“This award is a very important distinction for us and clearly sets us apart from other car seat manufacturers. Dorel Juvenile is first-to-market with this important new safety innovation,” commented Jean-Claude Jacomin, Dorel Juvenile Global President & CEO. “Our constant priority is to leverage our safety expertise and capabilities across all Dorel Juvenile product platforms and in the numerous global geographies where our products are sold. We Care for Precious Life is not just a slogan for us, it is a perpetual call to action.”
Several other new items encompassing Dorel Juvenile’s major product categories were unveiled at the Cologne show.
- The Milofix by Maxi-Cosi and Bébé Confort is a new front and rear facing car seat with a best-in-class 4 star rating.
- The next generation best-selling Loola stroller platform has been eco-designed and branded under Maxi Cosi & Bébé Confort.
- The Maia, is a new Bébé Confort travel system which will be offered at a mid-price point to attract mainstream consumers. It will be in stores this December.
- The Quinny Zapp Xtra2, with its iconic platform, has been redesigned with a full folding frame seat. The Zapp has been an excellent seller in both Europe and North America.
- Safety 1st is also expanding its range with Kokoon, a new travel system and a convertible car seat, Simply Safe, for the European mass market channel. Both will be available within the next few weeks.
- Dorel Juvenile has stepped up Bébé Confort’s footprint in the feeding category by introducing a new mealtime collection, as well as a new attractive eco designed bottle collection containing 20% less plastic. The product is now in stores in Europe and is currently being shipped in selected cities in the U.S.A. This category holds significant potential for Dorel Juvenile.
“Our booth at Cologne was unquestionably the busiest with a steady stream of traffic throughout the four days. Comments from retailers were consistently excellent with many remarking favourably on the extensive new product range unveiled,” concluded Mr. Jacomin.
Dorel Juvenile will be exhibiting prominently at the ABC Kids Expo from October 15 to 18 in Las Vegas.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile products and bicycle company. 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, Caloi, 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$2.6 billion and employs 6,300 people in facilities located in twenty-four 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.