Arctic Cat Announces Engine and Co-Brand Agreements with Yamaha Motor Corporation
Arctic Cat Inc. (NASDAQ: ACAT) announced today that it has entered into an engine supply agreement with Yamaha Motor Corporation, expanding Arctic Cat's purchase of Yamaha snowmobile engines starting in the 2014 model year. Arctic Cat initially entered into an agreement to purchase Yamaha 123cc 4-stroke engines for its youth snowmobile in 2009. This agreement has now been expanded to include select 4-stroke engines from Yamaha.
Arctic Cat's Snow Division Vice President and General Manager Brad Darling said, “The engine purchase agreement with Yamaha, combined with the engines that we plan to manufacture in house, will provide Arctic Cat's customers with the most well-rounded engine choices when it comes to technology, reliability and horsepower.”
Arctic Cat's Chairman and Chief Executive Officer Claude Jordan stated, “Our current Arctic Cat snowmobile chassis is renowned for its lightweight, bump control and precision handling. Combine that with the new performance engine options from Yamaha, as well as our state-of-the-art engine manufacturing facility in St. Cloud, Minnesota, and we guarantee there will be exciting years ahead for Arctic Cat enthusiasts.”
In addition to expanding the engine supply agreement with Yamaha, Arctic Cat also has expanded a co-branding agreement to build select Yamaha snowmobiles in Arctic Cat's Thief River Falls, Minn., factory according to Yamaha's specifications. This agreement began in 2012, with Arctic Cat building the Yamaha SRX 120 youth model snowmobile, and now will include full-size performance snowmobiles starting with model year 2014. These snowmobiles will be built to Yamaha specifications using Yamaha 4-stroke engines.
“We are pleased that our relationship with Yamaha continues to grow and with the opportunities ahead for both companies,” added Jordan. “Going forward, we believe this relationship will provide tremendous value to Arctic Cat, our customers, our dealers and our shareholders.”
Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs), side-by-sides and snowmobiles under the Arctic Cat® brand name, as well as related parts, garments and accessories. Its common stock is traded on the NASDAQ Global Select Market under the ticker symbol “ACAT.” More information about Arctic Cat and its products is available at www.arcticcat.com.
Arctic Cat Inc.
Timothy C. Delmore, 763-354-1800
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Padilla Speer Beardsley Inc.
Shawn Brumbaugh, 612-455-1754