Dorel Completes Sale of China Manufacturing Facility
Dorel Industries Inc. (“Dorel”) announced that it has completed the previously-announced sale of its juvenile products manufacturing facility in Zhongshan, China to Guangdong Roadmate Group Co., Ltd. (“Roadmate”) and has received the gross sale proceeds of approximately US$51 million from Roadmate.
As previously announced, Dorel will maintain its second manufacturing location in Huangshi, China as well as its product sourcing and quality control organizations in China that service all three of Dorel’s business segments. The sale transaction to Roadmate did not include Dorel Juvenile’s domestic sales operation based in Shanghai that was acquired along with the manufacturing facility in 2014.
Dorel Industries Inc. (TSX: DII.B, DII.A) is a global organization, operating three distinct businesses in juvenile products, bicycles and home products. Dorel’s strength lies in the diversity, innovation and quality of its products as well as the superiority of its brands. Dorel Juvenile’s powerfully branded products include global brands Maxi-Cosi, Quinny and Tiny Love, complemented by regional brands such as Safety 1st, Bébé Confort, Cosco and Infanti. Dorel Sports brands include Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse. Dorel Home, with its comprehensive e-commerce platform, markets a wide assortment of domestically produced and imported furniture. Dorel has annual sales of US$2.8 billion and employs approximately 8,200 people in facilities located in twenty-five countries worldwide.
Jeffrey Schwartz – Media Contact – (514) 934-3034
Source: Dorel Industries Inc.