Polaris Industries and Karts International Announce Partnership; Companies to Create Line of Go-karts and Mini-bikes.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Feb. 1, 2000 Polaris Industries Inc. (NYSE NYSE See: New York Stock Exchange :PII See Pentium II. ), and Karts International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :KINT) have signed an exclusive three-year licensing agreement to design and distribute Polaris go-karts and mini-bikes. Go-karts and mini-bikes, manufactured by Karts International, will be sold through Polaris dealers nationwide. In addition, Karts International will design and manufacture variations of the Polaris go-kart line and market them to its existing customers. The new product line will be introduced in early March at the Polaris snowmobile dealer conference in Orlando, Fla. The products are expected in Polaris dealerships nationwide at the end of March. &uot;Developing a Polaris brand name go-kart and mini-bike product line with Karts International is a strategic move for us,&uot; said Tom Tiller, 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. of Polaris. &uot;Polaris is always looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to expand and reinforce the brand name while offering our customers more choices in their adventure-seeking.&uot; The Polaris go-kart product line includes three models featuring two-person adjustable seating powered by 5hp to 11hp engines and a single seat model powered by an 8hp engine. The mini-bike will be designed to replicate the Victory Cruiser, the V92C Motorcycle, introduced in 1998. &uot;A recreational company like Polaris is a natural fit for the go-kart and mini-bike industry,&uot; said Charles Brister, president and CEO of Karts International. &uot;The Go-Kart industry has been in need of a new and innovative product line to inject excitement into the market. The appeal of a high-quality, uniquely styled go-kart and mini-bike with the Polaris brand name will attract new customers seeking the thrill of off-road family adventures.&uot; Karts International Incorporated, through its three wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Brister's Thunder Karts Inc., USA Industries Inc. and Straight Line Manufacturing Inc., is one of the largest manufacturers of recreational go-karts in the United States. Karts International Incorporated trades under the symbol &uot;KINT&uot; on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). Bulletin Board. For more information on the Polaris licensing program contact Bob Horton, President of Trademarketing Resources, Inc. (the exclusive licensing agent for Polaris) at 248/922-0124. Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles, motorcycles, personal watercraft and the Polaris RANGER for recreational and utility use. Polaris is the world's largest snowmobile manufacturer and one of the largest U.S. manufacturers of personal watercraft and ATVs. Polaris Industries Inc. trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. and Pacific Stock Exchange under the symbol &uot;PII,&uot; and the company is included in the S& SmallCap 600 stock price index. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion