JUVENILE Cosco Safety 1st Maxi-Cosi
Bébé Confort
Quinny Baby Relax Babidéal Hoppop Bertini
Mother's Choice
RECREATIONAL / LEISURE
Cannondale
GT SUGOI Schwinn Mongoose Iron Horse InSTEP
HOME FURNISHINGS
Ameriwood
Altra Furniture
Dorel Home Products Cosco Home & Office Dorel Asia
EXCHANGES
TSX: DII.B, DII.A
CONTACTS:
MaisonBrison Communications
Rick Leckner
(514) 731-0000
Dorel Industries Inc. Jeffrey Schwartz (514) 934-3034
C O M M U N I Q U É DOREL EUROPE PRESIDENT NAMED AS HEAD OF COMPANY'S GLOBAL JUVENILE SEGMENT Montreal, August 27, 2012-Dorel Industries Inc. (TSX: DII.B, DII.A) today announced a change in the top management position of its Juvenile segment. Effective immediately, Jean-Claude Jacomin replaces Hani Basile as Juvenile Segment Group President & CEO. Mr. Basile has left the Company to pursue other opportunities.Jean-Claude joined Dorel in 2003 and has held a number of executive positions with the Company in Europe. He began as Chief Operating Officer of Dorel France, was promoted the following year to President & CEO of Dorel France and in 2005 was named President & CEO of Dorel Europe.
"Jean-Claude has done an exemplary job in Europe. He has effectively grown Dorel Europe, particularly in a difficult economic environment, and has been very successful in uniting the multitude of cultures from across Europe into one cohesive, efficient team. We thank Hani for his dedicated service and wish him well in his future endeavours," stated Martin Schwartz, Dorel President & CEO.
The Juvenile Segment is Dorel's largest business, with operations worldwide, leading market positions and 2011 revenues of just under US$1 billion.
ProfileDorel 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.
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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.
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