Interesting question Howard.
I began to hear of the racing bikes during the 1990s through ads in cycling magazines. Apparently the company was a family owned cycle business dating from the 1890s when the Italian born founder emigrated to Brazil. Here is a link briefly detailing the company history.
http://en.wikipedia.org/
Here is a small reproduction of a 1972 advertising poster showing one of their folding bikes - which were their most popular models during the 1970s.
http://sellwoodcycle.com/
Here is a quote from a Latin American business blog site (mainly regarding the newly re-organized company which is hoping to stimulate business by focusing on the century long history of the bicycle company):
"...The company also has a US subsidiary opened in the 1990s and based in Florida. The US based Caloi, now big in the cruiser market, moved from mountain biking into the road-racing market and for some time co-sponsored the Motorola-Caloi team. Among those cyclists who rode Caloi bicycles designed by Eddie Mercx, was Lance Armstrong, as the main athlete."
BOB HANSON, ALBUQUERQUE, NEW MEXICO, USA