Dorel Industries Invests In, Renames Performance Apparel Division

In an effort to grow its Performance Apparel Division, Montreal-based Dorel Industries Inc. has
announced a number of changes. Under its new name, Apparel Footwear Group (AFG) — a division
comprised of Sugoi Performance Apparel, and the Cannondale, GT, Schwinn, Iron Horse and Mongoose
apparel lines — the business will focus on custom apparel as well as its regular offerings. Dorel
plans to expand a recently created center of excellence, invest in new equipment and hire
additional associates. The company also will relocate Sugoi to a 70,000-square-foot facility in
Vancouver, B.C., Canada. Chris Fuentes, a sales and marketing veteran, will lead AFG as president.

“An important focus of AFG will be to build the custom apparel business — developing
specific riding and running uniforms for teams and clubs,” said Robert P. Baird, president, Dorel’s
Recreational/Leisure segment. “The new Vancouver facility will allow Sugoi to increase custom
apparel capacity and offer lead times well above industry standards. We’ve barely scratched the
surface in this expanding market and expect Sugoi to triple its custom apparel business within five

“This is another example of Dorel’s strong commitment to this business,” Baird added. “We are
confident that this latest investment and new direction will allow AFG to grow exponentially by
providing quality performance apparel with a variety of silhouettes, textiles, features and designs
to match each brand’s market position.”

October 13, 2009