Dorel Adds a Product Line

Article Excerpt

DOREL INDUSTRIES $29.04 (Toronto symbol DII.B; SI Rating: Extra Risk) (514-731- 0000; www.dorel.com;Shares outstanding: 33.4 million; Market cap: $969.9 million) has acquired U.S. bicycle accessories maker PTI Sports for $28.1 million U.S. PTI is the second-largest North American maker of bicycle helmets. The purchase is part of Dorel’s strategy to grow its bicycle and juvenile products businesses. The PTI Sports purchase lets Dorel offer both bicycles and bicycle accessories. PTI also provides widespread North American distribution at mass-market retailers and sporting goods stores. As well, Dorel anticipates significant cost savings as it integrates PTI into its Pacific Cycle division. Pacific Cycle is a designer and supplier of bicycles including the Schwinn, Sting-Ray, Mongoose and GT brands. Dorel is still a hold. hold…