Dorel Reports Red Figures in Third Quarter

MONTREAL, Canada – Dorel Industries was troubled by the appreciation of the US dollar as well as impairment losses on goodwill and customer relationships related to Caloi in Brazil, restructuring and other costs. The owner of among others Cannondale, GT, Mongoose, Sugoi as well as Brazilian Caloi which was taken-over in August 2013 reported a third quarter loss of USD 8.8 million (€ 8.2mn) compared to a net income of USD 19.5 million (€ 18.2mn) in 2014.