By the end of 1932 Chemineau has become a racing brand, defined by its victories and the heros who have achieved them riding its fine bikes. The torch of technological development has left the building.

This low-res, deliberately smudged, scan is from the web site of the excellent Musée d'Art et d'Industrie in St-Étienne.

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• Publisher: L'Industrie des Cycles et Automobiles
• Country: France
• Date: November 1932
• Derailleur brands: Chemineau
• Derailleurs: Chemineau L'Izoard