Cannondale Bikes
Bike Pictures > Cannondale BikesCannondale Bikes was established in the year 1971 by Joe Montgomery, basically to manufacture bags and backpacks for camping. Later on the company moved on to start manufacturing bicycle trailers for long distance bicycle touring. To further expand the business, the company planned to enter the motor-sporting industry by manufacturing off-road motorcycles and ATVs (All Terrain Vehicles). However, the Cannondale was not able to drive down the costs of their motor-sports division, which was making major losses and ultimately received bankruptcy protection in 2003. Soon there after the motor-sports division was sold off and now Cannondale is of course best known for its bikes.
The bicycle division, which was also affected by the losses was purchased by Pegasus Capital Advisors in the same years when the motor-sports division was sold and the company primarily started focusing on a renewed bicycle production. In February 2008, Canadian based bicycle distributor and diversified consumer products company Dorel Industries purchased the Cannondale Bicycle Corporation from Pegasus Capital Advisors for an approximate of US$200 million and announced that all production would be shifted to Taiwan, on April 2009.
Today, the company is fully focused on the production of Cannondale bikes and believes that the ideas to keep the products on the cutting edge comes from the sponsored racers of the company’s official racing teams. The company’s mountain bike teams have won more than a dozen titles in World Cup Series, World Championships and many more events, including two Olympic medals and the Road Racing teams have won a number of stages in Tour de France, Giro d'Italia including two overall victories in the event, a World Championship title and two Italian National Championships.
The company is producing tens of models under a wide range of bicycle categories, including the high tech and advanced equipments and tools like the Head Wrench Tool, pro-long pitch kit, trail tools, lights, locks, computerized speed trackers to fit bicycles and many more. With this overwhelming growth, the company is currently one of the top bicycle and bicycle manufacturing company in the world.
