Partnership with leaders in racing technology announced at today's AGM
TSX: DII.B, DII.A
MONTREAL, May 26, 2011 /CNW Telbec/ - Dorel Industries (TSX: DII.B
DII.A) today announced that its U.S. juvenile products division has
signed an exclusive agreement to further child car seat safety with a
major supplier of racing seats for professional race car drivers.
Dorel Juvenile Group (DJG), USA and Bald Spot Sports (BSS) will
together research impact absorbing materials and occupant designs such
as those used in Formula 1 and IndyCar cockpit crash protection. "We
take the trust that parents place in Dorel seriously and therefore are
always seeking ways to create a safer world for children," Dorel
President and CEO, Martin Schwartz, told shareholders attending
today's Annual Meeting of Shareholders.
Design engineers at DJG are drawing on Bald Spot's motorsport safety R&D
background to determine how best to utilize the proprietary technology
used in their manufacture of race car cockpit crash materials.
Preliminary evaluation and testing indicates the race car seat foam
material, in combination with the geometrical shape the foam takes when
applied to a car seat, is allowing side impact forces to be absorbed
and directed away from the child occupant.
The foam has a proven track record in design flexibility and moulding
and in providing greater strength in racing seat technology. It is used
by 70-80% of Indy car drivers as well as on other professional race
circuits such as NASCAR and Nationwide.
"As the global leader in our Juvenile categories we must continue to
fund projects dedicated to maintaining our leadership in safety and
innovative design. This is the type of forward thinking that sets us
apart from the competition. We have a responsibility to design
products with the highest standards of quality and safety," commented
"For years, we have been helping professional racers manage the risk
that comes with the speed and adrenaline rush of their profession. The
technology behind our race seats and products helps absorb the forces
of multiple impacts and increase their chance of walking away from a
crash," said Travis Cobb, Partner at Bald Spot Sports. "We are excited
to explore how we can bring this technology to protecting kids every
day in real world situations."
New concept car seat launched
Another example of the Center's most recent work is Dorel's FlexTech
Energy Management, a next generation energy management technology that
has been incorporated in a newly launched car seat called the S1 Rumi™
Air. This new flex technology truss system serves as the seat's inner
frame and compensates for the differences in how children of different
ages and sizes behave during a crash by managing the crash forces and
transferring the energy away from the child. The seat's truss system is
a methodology used by architects to provide flexibility and distribute
forces within structures.
The car seat's frame also has the capacity for an increased weight range
of the child. FlexTech is much like the chassis of a car which can
accommodate multiple body styles or, in this case, multiple car seat
designs. There will be derivatives of this advanced technology which
provides Dorel with an important edge over other car seat
manufacturers. The technology will also allow for quick and easy
adaptation, thus getting advancements to the marketplace faster.
The Rumi™ is now available on an exclusive basis at Babies R US in the U.S. and at BRU locations in Canada in early July.
Bike business also benefitting from R&D
In his presentation to shareholders, Mr. Schwartz also outlined Dorel's
commitment to driving growth in its bicycle brands by designing
exceptional products and expanding the business globally. A number of
new models were premiered including:
The Cannondale Jekyll Ultimate mountain bike, equipped with industry-leading advanced technology,
featuring a combination of climbing expertise and downhill
The Schwinn Vestige. Designed to have a minimal impact on the environment; the frame is built
from natural bio-degradable flax fibres, the fenders are bamboo and the
paint is water soluble. The Vestige was first shown last year at
Eurobike and won the Gold design award in the urban category.
Cannondale's Super Six Team Edition - the bike Team Liquigas-Cannondale is currently riding in the Giro
D'Italia race. Weighing only 6.5 kilos, the SuperSix integrates some
of the industry's finest components and is engineered to win.
Visibility of the Cannondale brand is growing in Europe as Dorel has
substantially ramped up its commitment to pro cycling. Cannondale is
now a Co-Title sponsor of Team Liquigas-Cannondale. The Giro d'Italia,
one of the three Grand Tours, is currently underway and
Liquigas-Cannondale has a strong team competing, headed by Vincenzo
Nibali. They won last year's event.
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$2.3 billion company with 4700 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.
SOURCE DOREL INDUSTRIES INC.
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Dorel Industries Inc.