Quantcast

Dorel Industries Announces Election of Directors

May 28, 2014

EXCHANGES

TSX: DII.B, DII.A

MONTREAL, May 28, 2014 /PRNewswire/ – Dorel Industries Inc. (TSX: DII.B
DII.A) is pleased to announce that all of the nominees listed in its
management proxy circular dated April 24, 2014 were re-elected as
directors at the Company’s Annual Meeting of Shareholders held today in
Montreal.

At the meeting, a ballot was conducted for the election of directors.
According to proxies received and ballots cast, the following
individuals were re-elected as directors of Dorel, with the following
results:


    Name of Nominee    Votes For    % For     Votes     % Withheld
                                            Withheld

    Martin Schwartz    61,758,224   98.39   1,013,344       1.61

    Alan Schwartz      62,186,052   99.07     585,516       0.93

    Jeff Segel         62,188,693   99.07     582,875       0.93

    Jeffrey Schwartz   60,227,983   95.95   2,543,585       4.05

    Maurice Tousson    61,823,888   98.49     947,680       1.51

    Harold P. Gordon   62,449,425   99.49     322,143       0.51

    Dian Cohen         62,547,731   99.64     223,837       0.36

    Alain Benedetti    62,454,567   99.49     317,001       0.51

    Rupert Duchesne    62,447,477   99.48     324,091       0.52


Director biographies are available in the Corporate Governance section
of Dorel’s website at www.dorel.com.

Profile

Dorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile products and bicycle
company. 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
global juvenile brands Safety 1(st), Quinny, Maxi-Cosi, Bébé Confort and Tiny Love, complemented by
regional brands such as Cosco and Infanti. In Recreational/Leisure,
brands include Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse and
SUGOI. 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 approximately 6,400 people in facilities located in twenty-five
countries 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.


Source: PR Newswire



comments powered by Disqus