I believe that the designer of L'Izoard derailleur, Jean-Marie Dalibert, first tried to manufacture and market it himself. He quickly changed his mind and essentially handed the marketing over to Joanny Panel, who marketed it under his established Chemineau brand.

This early advert, dating from October 1928, supports this story. It describes the derailleur as being the product of 'Manufacture L'Izoard' and makes no mention of Chemineau. In an advert placed in February 1929 the absorbtion has becomes more explicit.

(Source gallica.bnf.fr/ Bibliothèque nationale de France)

• Publisher: Le Forez Sportif
• Country: France
• Date: October 1928
• Derailleur brands: Chemineau
• Derailleurs: Chemineau L'Izoard