The first 2011 Valdora PHX2 featuring custom painted Grammo Factor SL wheels and black CNC brakes.
In the background the 2011 model Grammo Factor TT and all new F9:8 tubular.
The Tri bar in the shot is also a brand new product from Valdora.
Spent today at the exhibition hall helping the nice folks from Grammo set up their booth. There will be lots of new things including the already outed Carbon mountain fork and the F5:8C carbon /Alloy clincher wheels, seen here mounted on a secret road frame. 
Can you tell what this frame is?
Send us a comment below if you think you have the answer.
It will be unwrapped tomorrow and there will be more pictures, including some of a particularly colorful concept bike from France, sporting a equally colorful pair of Grammo Factor 5:0TTs
Stay tuned for more tomorrow on the opening day of the show

