Cycling: CervÉlo Cycles Inc. Honoured with Innovation Award

Tuesday, February 02, 2010 - 06:47 PM

Award: Zurich's Canadian Innovation Award for Manufacturer of the Year

"You have got to try to find those little innovations that drive a better product," said Phil White, co-founder of the Toronto-based company. Cervélo makes a bicycle frame that weighs less than a bottle of water, but the frames alone can cost between $1,400 and $5,400. The top-of-the-line completed bike sells for $12,500. The carbon-fibre frames are wind-tunnel-tested in the U.S. and designed and engineered to be the among the three lightest and strongest bike frames on the market, said a spokesman. In 2008, the Star reported the company was selling more than 10,000 units a year.

Much of the company's manufacturing is done in Thailand and China, but within two years White said the company plans to start manufacturing at its facility in North York, which is currently used primarily for assembly. "North America is still a very viable manufacturing location," he said. "Now it is figuring out what to bring back and what can really be made cost-effectively here that is going to be really high performance." Cervélo was founded in 1995, has grown steadily and had a 10 per cent increase in sales last year.