Can-Am Headquarters ...Aurora Wheelers ATV Forum > Rides | ATV News and Events > ATV | OHV News > Arctic Cat to expand in St. Cloud |
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| Arctic Cat to expand in St. Cloud - ATV | OHV News - Rides | ATV News and Events - Can-Am Headquarters ...Aurora Wheelers ATV Forum | ||||||||||||||||
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outlandish AWF Admin 
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Arctic Cat Inc will announce on Thursday morning that it will build a new manufacturing plant in St. Cloud. The facility will likely be used to make engines for the company's all-terrain vehicles (ATV). The announcement will be made at the office of Gov. Tim Pawlenty in St. Paul. Chris Twomey, chairman and CEO of Arctic Cat, is expected to attend, along with St. Cloud Mayor John Ellenbecker, according to a press release from Pawlenty's office. Thief River Falls-based Arctic Cat makes snowmobiles and ATVs. In the company's year-end conference call with analysts in May, Twomey said the firm expects to spend $5 million to $7 million on a new manufacturing plant in the next year. In the call, Twomey told analysts that Arctic Cat was searching for a new ATV engine plant, which it did not plan to build in Thief River Falls, in northwestern Minnesota near the Canadian border. An announcement of the plant's location was due in early June. Twomey said the company wanted a location that could attract more engineers and that was closer to the supply chain. Last year, Arctic Cat announced it would begin building its own ATV engines. In the past, most of its engines were supplied by Suzuki Motor Corp. of Japan. By building the engines inhouse, Arctic Cat hopes to save money, be more flexible responding to market conditions and avoid certain international trade duties. For its fiscal year, which ends March 31, 2006, Arctic Cat expects sales will grow 3 percent to 5 percent from their 2005 levels, to a range between $710 million and $723 million. The company expects earnings per share between $1.31 and $1.40, compared to $1.36 per share it earned in 2005. Arctic Cat's stock closed the day down 22 cents per share, or 1.06 percent in light trading levels. The stock is near the bottom of its 52-week range, $18.63 per share to $29.20 per share. The stock price dropped steeply in April after Arctic Cat warned it would miss analysts expectations for the fourth quarter of fiscal 2005. sblack@bizjournals.com | (612) 288-2103 © 2005 American City Business Journals Inc.
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outlandish AWF Admin
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Another.... Associated Press ST. CLOUD, Minn. - The engines for Arctic Cat's utility-style ATV will be built in a new factory in St. Cloud, company officials announced Thursday. Thief River Falls-based Arctic Cat Inc. will build the factory on a 15-acre site near Interstate 94. The plant would open by 2007 and initially employ 50 people. The building is big enough for the company to eventually hire 100 more. "I don't think there's a better time than now to have an employer with a potentially significant number of manufacturing jobs come into the community," St. Cloud Mayor John Ellenbecker said. St. Cloud was chosen because it has enough workers and it's close to vendors and Arctic Cat headquarters, said Paul Omodt, a company spokesman. Construction could start next spring. "When you need to move product out, (St. Cloud) is a nice location," Omodt said. Arctic Cat is expected to benefit from the state's Job Opportunity Building Zones designation, which provides reduced property, income and sales taxes to companies wanting to expand.
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roosterado9 Member
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this is cool i heard this on radio at work in Willmar
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outlandish AWF Admin
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I'm assuming they will build the 650 H1 engine there?
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