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Posted: Sep 30 2010, 02:14 AM
BMX News Reporter
Member No.: 2
Joined: 27-September 10
*** Dorel Significantly Increases Its Sponsorship Commitment ***
Montreal, Canada/Bethel, CT -- 09/30/2010
Dorel Significantly Increases its Sponsorship Commitment with
Liquigas Pro Cycling - Cannondale bikes becomes Co-Sponsor.
The Cycling Sports Group (CSG) Division of Dorel Industries (TSX: DII.B, DII.A)
is significantly ramping up its partnership with Liquigas Sports S.p.A. Effective
January 1, 2011 Cannondale will be the Co-Sponsor of the Liquigas Pro Cycling
Team. Cannondale has been a Technical Bicycle Sponsor for the past four years
and team members have been riding Cannondale bikes since that time.
"This additional investment underlines our recognition and respect for
the accomplishments of the Liquigas team and is a further meaningful
commitment to the Cannondale brand," stated Dorel President and CEO,
Liquigas has had a remarkable year. The Cannondale SuperSix Hi-Mod has
powered team members to take the top spot in two of the three major Grand
Tours. Ivan Basso won the Giro d'Italia, Vincenzo Nibali recently captured the
Vuelta a Espana. Additionally, Peter Sagan came second in the UCI Grand Prix
Cycliste de Montreal. The SuperSix Hi-Mod is the flagship of Cannondale's
outstanding road bike line.
As of January 1st, the official team name will be Liquigas-Cannondale;
Cannondale will appear prominently on team jerseys, which are being
designed by Dorel's SUGOI division; as well, there will be better logo
placement for Cannondale on Liquigas-Cannondale team vehicles, website
and team clothing. There will be significant marketing integration between
Cannondale and the team in order to showcase team riders and wins as
well as capitalize on consumers' interests in pro-cycling.
"Coming off a solid 2010 season, we felt there was no better time for Dorel
to expand its partnership with Liquigas. We are committed to building our
bicycle business into a global force and this is an important investment for
us as we further this objective.
Cannondale sales have grown significantly this year. Our new models have
been enthusiastically embraced by consumers and we have increased the
number of dealers in the Cannondale network. There remain ample growth
opportunities for this premium brand and we will remain highly proactive to
ensure that the profitability of this division continues to increase," commented
Robert Baird, Group President and CEO of Dorel's Recreational/Leisure
Segment said the new arrangement is the logical evolution of a partnership
that was founded on the tradition of combining world-class cyclists and best
-in-class bicycles. "For more than forty years, Cannondale has led the bicycle
industry with cutting-edge technology.
An important part of the Cannondale product development process is
feedback from our team riders. The Liquigas team provides us with
product feedback that helps us ensure that more cyclists of all skill levels
look to Cannondale for their cycling needs. We look forward to building
our relationship with Liquigas and continuing to produce the best bicycles
for cyclists around the world."
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
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