New owner of GT in conference call and live webcast

Execs from Dorel Industries, which yesterday announced it is to buy Pacific Cycle in an all-cash deal, can be seen and heard later today being quizzed at a 2004 Guidance press conference. Dorel is to create a new recreational/leisure division to absorb Pacific.
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The conference call and webcast will start at 11:00 p.m. Eastern Time. Call 514 807 8791 (Montreal or overseas) or 1-800-814-4853 (elsewhere in North America).

The conference call can also be accessed via live webcast at (equal sign)718740 or

Dorel CFO, Jeffrey Schwartz, said the Pacific Cycle transaction is expected to close early in February.

Sales in the new recreational/leisure division are expected to be in the range of $335m to $375m for the 11 months of 2004. Earnings from operations as a percentage of sales are expected to be between 11.5 percent and 12.5 percent.

"This, quite obviously, is a new business for us, so we are being prudent in our expectations," said Schwartz

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