Cannondale Launches New Pro-Cycling Team With Brixia Sport
Bethel, Conn. - 9/19/2012
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."
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.