U.S. Army Awards Polaris
ATV Contract
Relationship Drives Company's
Growth in Adjacent Market Segments
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Polaris
MV700 All Terrain Vehicle |
Minneapolis, MN (8/20/2007)
- Polaris Industries
Inc. today announced
the Company was awarded a contract by the U.S. Army
TACOM Life Cycle Management Command to continue to provide
the company's highly successful militarized ATV (All-Terrain
Vehicle). This competitively awarded contract will supply
Polaris MV700 All Terrain Vehicles, parts and accessories.
The MV700 has already proven to be a very versatile
vehicle in supporting a wide variety of missions conducted
in urban, rural, mountain and desert areas in Southwest
Asia.
The contract will cover three years
and has a potential total value of more than $16 million;
deliveries under the contract will commence prior to
December 31, 2007.
"Polaris is very proud to continue
its role in providing the U.S. Army with world-class
machines that can be relied on to perform under the
toughest conditions," said Tom Tiller, Polaris
CEO. "The awarding of this TACOM contract and the
continued relationship with the U.S. Army represents
a major step for our overall business as we drive to
achieve growth in adjacent market segments."
In the early part of 2007, Polaris outlined
a set of objectives intended to achieve its sales and
earning goals through 2009. One of the main focuses
in the new strategy was to generate incremental sales
from several growth businesses, including the exploration
of opportunities in new adjacent market segments. The
new TACOM contract and the Company's continued relationship
with the U.S. Military validates this growth business
directive and demonstrates its ability to expand into
adjacent market segments outside of its typical consumer
base.
The long-standing relationship between
Polaris and the U.S. Military began in earnest in 2002
and, with increased opportunities over the past years,
has become a great focus for new business for the Company.
Already with thousands of machines in the field, this
new contract continues Polaris support of U.S. Army
Forces and its Allies with innovative, high performance
and high quality products that are designed for a wide
variety of military applications.
About Polaris:
With annual 2005 sales of $1.9 billion,
Polaris designs, engineers, manufactures and markets
snowmobiles, all-terrain vehicles (ATVs), Victory motorcycles
and the Polaris RANGER for recreational and utility
use.
Polaris is a recognized leader in
the snowmobile industry; and one of the largest manufacturers
of ATVs in the world. Victory motorcycles, established
in 1998 and representing the first all-new American-made
motorcycle from a major company in nearly 60 years,
are rapidly making impressive in-roads into the motorcycle
cruiser marketplace. Polaris also enhances the riding
experience with a complete line of Pure Polaris apparel,
accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on
the New York Stock Exchange and Pacific 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
is available from authorized Polaris dealers or anytime
from the Polaris homepage at www.polarisindustries.com
.
www.polarisindustries.com
2100 Highway 55
Medina, MN 55340
(763) 417-8650
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