Polaris Industries Inc.,
Bobcat Company Announce Long-Term Strategic
Alliance - Technology Sharing, Co-Development
and Supply of Highly-Differentiated Work Vehicles
Minneapolis, MN (3/2/2009) -
Polaris Industries Inc. (NYSE: PII) and Bobcat
Company today announced a long-term strategic
alliance that will leverage the complementary
strengths of both companies to penetrate work-related
market segments globally. The alliance will
include technology sharing, co-development
and supply of highly-differentiated work vehicles
with a planned launch by the second half of
2010.
"We are excited to enter this alliance
with Bobcat, a respected leader in the work
vehicle industry" said Scott Wine, CEO,
Polaris Industries. "This alliance is
consistent with our stated strategy of diversifying
Polaris beyond our core powersports segments
and will enhance our efforts to accelerate
the growth of our military and international
businesses," continued Wine. "Initially,
Polaris will produce and sell highly-differentiated
work vehicles to Bobcat for sale through the
Bobcat dealer network. The breadth and depth
of our cooperative efforts will expand thereafter
to include co-developed vehicles for both
Polaris and Bobcat, and further technology
sharing.
"We are thrilled about the long-term
implications of this alliance." said
Richard Goldsbury, President Bobcat Americas.
"Bobcat's and Polaris' long tradition
of innovation, product passion and similar
cultures complement each other very well.
We are combining the strengths of the No.
1 compact construction equipment manufacturer
with those of the No. 1 off-road vehicle manufacturer
to deliver innovative product solutions for
our customers. This alliance will enable both
companies to extend our customer bases and
provide profitable growth."
Both Wine and Goldsbury stated, "Working
together, we will strive to generate increased
revenue and profits for Polaris, Bobcat and
our dealer networks. With this alliance, Polaris
and Bobcat will be well positioned for incremental
revenue growth in 2010 and beyond."
About Polaris:
With annual 2008 sales of $1.9 Billion, Polaris
designs, engineers, manufactures and markets
off road vehicles (ORVs) including: all-terrain
vehicles (ATVs), the Polaris RANGER, snowmobiles,
and Victory motorcycles for recreational and
utility use. Polaris Industries Inc. trades
on the New York Stock Exchange under the symbol
"PII," and the Company is included
in the S&P Small-Cap 600 stock price index.
Information about the complete line of Polaris
products, apparel and vehicle accessories are
available from authorized Polaris dealers or
anytime from the Polaris homepage at www.polarisindustries.com.
About Bobcat:
More than 50 years ago, Bobcat Company unleashed
a way to work better, smarter and faster with
the introduction of the Melroe Self-Propelled
Loader. That machine evolved into the Bobcat
skid-steer loader and spawned the worldwide
compact equipment industry. Bobcat Company,
headquartered in West Fargo, N.D., is part of
Doosan Infracore International (DII), a U.S.-based
subsidiary of Doosan Infracore, a global manufacturer
of construction equipment. To learn more about
the full line of Bobcat products, visit www.bobcat.com.
www.polarisindustries.com
2100 Highway 55
Medina, MN 55340
(763) 417-8650
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