Arctic Cat Announces Polaris Stops Using Arctic Cat's Patented Technology After Being Sued.
THIEF RIVER FALLS, Minn.--(BUSINESS WIRE)--Nov. 10, 2003
Arctic Cat Inc. (Nasdaq:ACAT) announced today that it has dropped a lawsuit it filed against Polaris Industries Inc. The suit alleged infringement of Arctic Cat's innovative exhaust temperature ignition timing patent on high- performance engines used chiefly for snowmobile racing. Arctic Cat dismissed the suit after Polaris revealed it had discontinued use of Arctic Cat's technology in Polaris' racing snowmobiles.
"We sued Polaris to prevent it from selling racing snowmobiles that infringed our patent," said Christopher A. Twomey, chairman and CEO of Arctic Cat. "Our pioneering technology provides a competitive advantage to our snowmobile racers. During the course of the litigation, Polaris revealed that it had stopped using Arctic Cat's patented technology in its racing snowmobiles. We conclude that Polaris stopped because the company knew it had infringed our patent. We achieved our goal, so we dismissed the lawsuit."
Continued Twomey: "Arctic Cat prides itself in leading innovation in the snowmobile industry. We will not tolerate anyone who copies our patented products and we will vigorously protect our intellectual property. Arctic Cat holds several patents that cover the exhaust temperature ignition timing technology found in the allegedly infringing snowmobiles. Should Polaris sell snowmobiles in the future using our technology, Arctic Cat will sue Polaris again."
Arctic Cat Inc. designs, engineers, manufactures and markets snowmobiles and all-terrain vehicles (ATVs) under the Arctic Cat(R) brand name, as well as related parts, garments and accessories. The company markets its products through a network of independent dealers located throughout the contiguous United States and Canada, and through distributors representing dealers in Alaska, Europe, the Middle East, Asia and other international markets. For more information, please visit Arctic Cat's Web site at www.arcticcat.com.
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 10, 2003|
|Previous Article:||3D Systems Announces Q3 and Nine Months 2003 Results.|
|Next Article:||Strategic Global Income Fund, Inc. Dividend Notice.|