Elite cycling squad officially renamed Team Garmin-Chipotle Presented by H30
OLATHE, Kan./June 18, 2008/PR Newswire — Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), the global leader in satellite navigation, announced today its title sponsorship of Slipstream Sports, an elite cycling team that will be showcasing its dedication to clean competition in one of the biggest events in professional sports: the Tour de France. In tackling the daunting stages of the Tour — and redefining the face of cycling — Team Garmin will train and race with the Edge 705 GPS-enabled cycling computer and travel with nüvi 770 personal navigation devices. The sponsorship will extend through 2010 and the entire team – from kits to cars, will be re-branded for the Tour de France.
Garmin and Slipstream officials and athletes will hold a Webcast press conference on June 18, 2008, at Noon Eastern Daylight Time. All interested parties are welcome to attend. Additional information on Garmin’s title sponsorship, including the new team logo and visuals, will be revealed on July 3 in Brest, France, in the press room at Penfeld Parc des Expositions de Brest.
“Slipstream cyclists are setting the standard for success through integrity and sportsmanship,” said Jon Cassat, Garmin’s vice president of communications, “and this fresh perspective on work ethic and accountability is in keeping with Garmin’s worldwide reputation for accomplishing great things through teamwork.”
Packed with detailed maps of North America and Europe — and several million preloaded points of interest — the widely acclaimed nüvi 770 will help Team Garmin’s tour bus and support vehicles travel with speed and ease across two continents. Barely bigger than a deck of cards, the nüvi 770 features traffic alerts, Bluetooth compatibility, route-planning capabilities for multi-stop trips and instant answers to the questions: “Where am I?” and “Where’s my car?”
The Edge 705 represents several breakthroughs in cycling technology, including power compatibility, wireless unit-to-unit connectivity and the ability to monitor GPS position, heart rate, speed, cadence, altitude and gradient on the same display. And Team Garmin will be able to share data – including saved rides, waypoints and workouts –through ANT+Sport™ wireless technology.
Team Garmin cyclists and coaches can track their progress, share workouts and participate in an online community – even sharing recent rides with fans around the world. Garmin Connect calculates measurements such as time, distance, speed, elevation and heart rate. This information is displayed through charts, illustrations, reports and a variety of map representations including street, photo, topographic, and elevation maps as well as the popular Google Earth application.
Garmin and Slipstream Sports share similar success stories rooted in hard work, innovation and an unwavering insistence on quality results. Just as Garmin is a global leader with facilities in North America, Europe, and Asia, the Slipstream squad assembled elite athletes from around the world. Team Garmin features several Tour de France stage winners and five National Champions from the USA, Sweden, UK, New Zealand and Canada. At this summer’s Olympics in Beijing, 17-year-old phenom Taylor Phinney will be among the members of Team Garmin competing for gold at the Games.
“We are thrilled to partner with Garmin and believe that establishing this title sponsorship is further evidence that a new era of cycling is upon us,” said Jonathan Vaughters, CEO of Slipstream Sports, LLC, the sports management company that runs the team. “Garmin’s commitment to innovation and integrity mirrors our own.”
Slipstream Sports is dedicated to promoting ethical competition and developing the next generation of cycling champions. In 2007, Slipstream partnered with the independent Agency for Cycling Ethics (ACE), to create the most progressive anti-doping system in the professional sports world. The team of 25 riders undergoes combined voluntary testing at least 700 times throughout the cycling season. Team director Jonathan Vaughters’ staunch “ride clean or go home” philosophy earned him a nomination by Sports Illustrated for the prestigious Sportsman of the Year award.
During the season, television coverage of professional cycling reaches 4 billion people, a number that is sure to grow as the sport emerges as an easy and enjoyable solution to global challenges associated with the environment and health issues. All around the world, riders of all ages, abilities and demographics are getting back on their bikes. And few competitive teams travel as far and as often as an elite cycling squad — the sport itself rewards getting from Point A to Point B the most efficiently — and Garmin’s wide range of products offer assistance every step of the way.
About Slipstream Sports
Founded in 2005, Slipstream Sports LLC is a highly progressive sports management company dedicated solely to promoting the ethical growth of American cycling.
About Team Garmin-Chipotle Presented by H30
Owned and managed by Slipstream Sports, a sports marketing and development company, Team Garmin-Chipotle Presented by H30 is dedicated to promoting ethical sporting and developing the next generation of cycling champions. In 2007, Team Slipstream partnered with Agency for Cycling Ethics (ACE), to create the most progressive anti-doping system in the professional sports world. Each of the team’s 25 riders will undergo combined voluntary testing at least 700 times throughout the 2008 season, 20 times the number of tests that most professional cyclists are subject to annually. Team Garmin will be competing in a full schedule of professional cycling races in the U.S. and Europe throughout 2008. Additional information is available at www.slipstreamsports.com.
About Garmin International
Garmin International Inc. is a member of the Garmin Ltd. (Nasdaq: GRMN) group of companies, which designs and manufactures navigation, communication and information devices – most of which are enabled by GPS technology. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor recreation, automotive, wireless and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin’s virtual pressroom at www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin, Edge and nüvi are registered trademarks, and ANT+Sport and Garmin Connect are trademarks of Garmin Ltd. or its subsidiaries. Anticipated product availability dates are based on management’s current expectations and are not guaranteed.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on forward-looking statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company’s future product introductions are forward-looking statements. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 29, 2007, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s Form 10-K can be downloaded at www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.