Not much news on this one yet. We'll keep our ears to the ground about that new 29er they're claiming though. Here's the press release:

It's a Tool, Not a Trophy: Foundry Cycles Delivers Fresh Take on Carbon Bikes
Foundry Cycles, a new brand offering durable, high-performance bicycles, will begin previewing its line of carbon frames to bike dealers at industry events throughout the summer. The lineup will include the Ratchet, a road bike; the Auger, a cyclocross model; and the Router, a Mountain 29er. Beginning in December, framesets will be available through bike shops across the U.S. Complete bikes will become available in February 2012.

"Foundry serves cyclists who value precision riding characteristics, durability and refined, understated graphics," said Jason Grantz, Foundry brand manager. He added that all three models fuse bold, contemporary designs with the latest carbon technology. "These are tough, fast bikes with working class roots."

"We believe that a bicycle is a tool, a precision instrument that provides a means to an end–allowing riders to get the most out of every ride," said Ben Scherer, Foundry product manager. "These are not trophy bikes; they're designed to be ridden. Foundry stands behind every bicycle we craft, designing and testing them to provide the utmost assurance every time you ride."

Foundry will unveil the first ride samples of its three models for bike dealers at SaddleDrive, an industry demo and product expo to be held this July in Ogden, Utah.

About Foundry Cycles
Foundry Cycles makes hard-working, modern performance bikes—purpose-built for people who ride hard. Offering carbon framesets and complete builds for road, mountain and cross, our bikes are precision tools that deliver uncompromising performance and enhance the entire ride experience. Foundry is based in Bloomington, MN.