Ariel Bicycle Works was a component manufacturer based in Littleton Colorado in the early 1990s, for about 6 years I think. They made road and mountain hubs (pictured in the OP post), a suspension hub, skewers and titanium SDP pedal axles. The rear hubs were 8 speed Shimano compatible and used an XT cassette body. Available in all the fancy colors of the day. I had a set of black hubs and they were lovely to look at and essentially worked as an XT hub would. Pretty nice stuff.
Drowning in Retro!