Expansion Supports Cost Structure Efficiencies Allowing for Continued
Investment in PG&A Growth
MEDINA, MINN., May 31 /CNW/ - Polaris Industries Inc. today announced it
will add 128,000 square feet to its Vermillion parts, garments and accessories
distribution center effective spring 2008. Investment in the centralized
Vermillion facility, which will add fifty percent capacity to the already
existing 256,000 square foot facility, reflects Polaris' ongoing commitment to
the thriving Parts, Garments and Accessories (PG&A) business and the company's
results-driven approach to operational excellence. The new expanded Vermillion
facility will absorb the support role currently carried out by its Winnipeg,
Manitoba PG&A distribution facility. Polaris plans to make this transition
complete and permanently close the Winnipeg PG&A distribution warehouse in
summer 2008.
"The expansion of our Vermillion facility puts us in a solid position to
improve our overall business results and continue the solid growth we're
achieving in the PG&A division," said Tom Tiller, CEO of Polaris Industries.
"Our intent is to build an efficient organization that can execute for our
dealers and our customers."
The Vermillion PG&A distribution center was built in 1997 and the growing
Parts, Garments and Accessories business has more than doubled in sales since
that time. Polaris chose Vermillion as a warehouse location due to its
available labor force and central location to the company's customer base.
The Winnipeg PG&A distribution center closure affects less than 20
full-time positions out of Polaris' total workforce of approximately 3,500
employees. Sales/Marketing, Technical Service, Dealer Support and certain
administrative functions for the Canadian market will remain in Winnipeg.
About Polaris
With annual 2006 sales of $1.7 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 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.
For further information: Weber Shandwick Brian Israel, 952-346-6197 or
Polaris Industries Marlys Knutson, 763-542-0533
January 23, 2007 - Victory Motorcycles, a division of Polaris Industries,
unveiled their two new luxury touring models at the International Motorcycle
Show in New York recently. The new bikes, named the Victory Vision Street
and Victory Vision Tour, are a combination of style and comfort.
Ross Clifford, better known for his steering of a host of Triumph motorcycles including the Rocket III, Speed Triple and Daytona 600, has been appointed as General Manager of Polaris Britain Ltd., parent company of Victory Motorcycles in the UK.
Polaris has released the 3rd qtr. financal numbers. I think a 60% growth in Victory sales is rather healthy. Other products they make are not doing as well, as the stock reflects. Still positive.......
http://phx.corporate-ir.net/phoenix.zhtml?c=108235&p=irol-newsArticle&ID=915383&highlight=
FredB