Dorel Ranks Top Among Innovation At Major Us Juvenile Trade Show
Montreal, Quebec - 10/19/2010
An exciting line-up of 2011 juvenile products across several product categories was unveiled by Dorel Industries Inc.’s (TSX: DII.B, DII.A) Dorel Juvenile Group (DJG) at the recently completed ABC Kids Expo. Feedback from Dorel’s customers and trade media indicated they were impressed with the numerous new and solution oriented products they saw.
The ABC Kids Expo is the premier North American juvenile products specialty show that fills nearly one million square feet of exhibit space with more than 900 exhibitors in attendance. DJG was one of the largest juvenile products manufacturers present with representation from all its major brands including Safety 1st, Cosco, Maxi-Cosi, Quinny, Hoppop, Eddie Bauer and Disney.
A wide variety of state-of-the-art safety products was introduced by Safety 1st. Included were the Comfy Carry car seat, which weighs a remarkably light six pounds and accommodates preemies four pounds to babies up to 22 pounds, the Clic It! universal stroller frame, recognized for its affordability, extended sun canopy, easy attachment method ensuring proper attachment to avoid the risk of injury, and compatibility with all Dorel brand car seats as well as most competitor seats , and the special edition Bel-Air, Princess and Fighter Pilot Essential Air seats, which were praised for their ability to help keep kids in car seats longer. Also of note, the Safety 1st Pediatric Dental Set, which was developed in conjunction with the pediatric dental associations, offers parents a unique solution to gum and oral health.
“Safety is a major priority across Dorel’s entire portfolio of brands. As the largest manufacturer of juvenile products globally, we consistently strive to design and bring to market products parents can trust and rely on to keep their children safe,” said Martin Schwartz, Dorel President and Chief Executive Officer. “We spend millions annually to design products that highlight safety and innovation. The new line introduced at ABC Expo is proof of that.”
The Maxi-Cosi brand, well known and respected in Europe and introduced to the US market in 2007, continues to show growth in the US market, in part spurred by improved distribution of the Mico infant car seat. Also, with its first introduction in the double stroller market, the Maxi-Cosi Addoré was praised for its ability to hold two children up to 50 pounds each and for positioning baby closer to mom. Another eye-catching introduction was the Maxi-Cosi Elea stroller, which features an innovative two-step ‘compact to super compact’ folding technology.
Quinny continues to be a market leader in high-end full-size and compact strollers. New introductions to the line for 2011 include the Quinny Zapp Xtra, which will be available in the fashion forward colors Pink Emily, Brown Boost, Rocking Black and Rebel Red.
“We invest heavily in cutting-edge technology and research and development to ensure we consistently bring industry- leading innovation to our customers,” said Hani Basile, Group President & CEO, Dorel Juvenile Segment. “The positive feedback we’ve received at this year’s show is a testament to our leadership position when it comes to safety innovation.”
For more information on Dorel, go to www.dorel.com.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile products and bicycle company. Established in 1962, 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 furniture products, both domestically produced and imported. Dorel is a US$2 billion company with 4500 employees, facilities in nineteen countries, and sales 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.