The Cycling Sports Group Division of Dorel Industries is significantly boosting its partnership with Liquigas Sports S.p.A. Effective Jan. 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, Martin Schwartz.

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 Mr. Schwartz.

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.”