Arctic Cat to Build Its First ATV Engine.Business Editors THIEF RIVER The Thief River is a tributary of the Red Lake River in northwestern Minnesota in the United States. Via the Red Lake River, the Red River of the North, Lake Winnipeg and the Nelson River, it is part of the watershed of Hudson Bay. FALLS, Minn.--(BUSINESS WIRE)--May 13, 2004 New 650 H1 Engine Designed by Arctic Cat Arctic Cat is a producer of all-terrain vehicles and snowmobiles in the United States. Located in Thief River Falls, Minnesota, they are a top competitor with other snowmobile companies such as Polaris, Ski-Doo by Bombardier, and Yamaha Motor Company Ltd.. ; Engine to Become Available on Company's 650 ATV (1) (Advanced TV) An early name for the digital TV standard proposed by the Advisory Committee on Advanced Television Service (ACATS). See ACATS. See also ATV Forum. (2) (Analog TV) Refers to the NTSC, PAL and SECAM analog TV standads. in Late 2004 Arctic Cat Inc. (Nasdaq:ACAT ACAT See: Automated Customer Account Transfer ) today reported that it has designed and will assemble its first ATV engine, called the 650 H1, which will debut on a new Arctic Cat 650 H1 4x4 Automatic ATV later this year. The 650 H1 engine will be assembled near the company's headquarters in Thief River Falls, Minn., at a new, state-of-the-art 24,000 square foot facility. "The introduction of the H1 is a strategic first step in our new engine program," said Christopher A. Twomey, Arctic Cat's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "While we enjoy excellent relationships with our current engine suppliers, having the capability to design and build our own ATV engines will enable us to offer customers more choices, provide excellent value and enhance our long-term competitive position." Arctic Cat Creates ATV Engine Division The new engine was designed by a highly specialized team of professionals that make-up the all-new ATV Engine Division within Arctic Cat. The Engine Division was conceived in the summer of 2000. To staff the team, Arctic Cat assembled expert engineers acquired from outside companies, well-known German engine design firms and existing Arctic Cat employees with unmatched experience within the disciplines of clutching, quality control and field test. The H1 was designed and built using the latest manufacturing technology to ensure exact, quality standards. Each new engine will be thoroughly tested before being placed in an ATV. Tests include the ultra-modern Cold Spin Test, employed by manufacturers such as the "Big 3" automakers, which checks a multitude of required specifications including compression, valve and ignition timing Ignition timing in an internal combustion engine is the process of setting the time that a spark will occur in the combustion chamber (during the power stroke) relative to piston position and crankshaft angular velocity. , and a leak test, all while the engine is "cold" and not running. A separate "hot test" checks operating conditions, torque and horsepower, among other parameters, to ensure exact tolerances. The combination of both testing methods make Arctic Cat unique in requiring such rigorous quality standards. "The H1 engine will provide an excellent combination of power, durability and value to our ATV line," Twomey said. "Moving forward, our intent is to build and continue to source the best engines that meet the requirements of our customers." New H1 Engine The engine's "H1" name comes from its hemispherical-shaped cylinder head and single-cylinder design. Its single-cylinder design gives the new 650 H1 a broad powerband, with an emphasis on low- and mid-range torque, that provides optimal power for pulling under heavy load or quick acceleration on trail rides. The liquid-cooled, single-cylinder 641cc four-stroke features the Duramatic automatic transmission (with Hi-Lo range), electronic push-button (electronics) push-button - A roughly fingertip-sized plastic cover attached to a spring-loaded, normally-open switch, which, when pressed, closes the switch. Typical examples are the keys on a computer or calculator keyboard and mouse buttons. two-wheel and four-wheel drive, and engine braking Engine braking is the act of using the energy-requiring compression stroke of the internal combustion engine to dissipate energy and slow down a vehicle. Compression braking is a common legal term for the same mechanism. . It is fed by a 40mm Keihin carburetor with electric choke. With liquid cooling and a thermostatically controlled auxiliary fan, the H1 engine delivers consistent operation in all conditions. About Arctic Cat Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs) and snowmobiles under the Arctic Cat(R) brand name, as well as related parts, garments and accessories. Its common stock is traded on the Nasdaq National Market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "ACAT." More information about Arctic Cat and its products is available at www.arcticcat.com. Forward-Looking Statements The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for certain forward-looking statements. The Company's Annual Report, as well as the Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and future filings with the Securities and Exchange Commission, the Company's press releases and oral statements made with the approval of an authorized executive officer, contain forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions that indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to: product mix and volume; competitive pressure on sales and pricing; increase in material or production cost which cannot be recouped in product pricing; changes in the sourcing of engines from Suzuki; warranty expenses; foreign currency exchange rate fluctuations; product liability claims and other legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. in excess of insured amounts; environmental and product safety regulatory activity; effects of the weather; overall economic conditions; and consumer demand and confidence. Editor's Note: Arctic Cat, Inc. issued an announcement related to this release, (ARCTIC CAT REPORTS RECORD REVENUES FOR FISCAL 2004) at approximately 7 a.m. Central Time that can be accessed from Business Wire. |
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