Untenstehende Meldung ist zwar
nicht mehr neu, aber fuer die weitere Entwicklung recht bedeutend. Mancher liest daraus eine
bevorstehende Uebernahme heraus.
Wels/Mattighofen, 19th July 2005 PRESS RELEASE: KTM
and POLARIS – A Strategic Partnership in the field of POWER SPORTS Vehicles Wels/Mattighofen:
The KTM POWER SPORTS AG (formerly CROSS Holding AG) is entering into a strategic partnership with POLARIS
Industries Inc., which is based in Minneapolis, Minnesota, U.S.A. As it has announced, POLARIS shall take
over the 24% equity stake in KTM POWER SPORTS AG held by Swisspartners. It will thereby become a new
shareholder of the KTM POWER SPORTS AG, which is listed on the prime market of the Wiener Börse (Vienna
Stock Exchange). It is contemplated that DI Stefan Pierer, managing director of the KTM Power Sports AG,
shall be nominated for a seat on the Board of Directors at POLARIS and that Tom Tiller, the Chief
Executive Officer (CEO) of POLARIS, also be nominated for a seat on the KTM supervisory board. The
first stage in the strategic partnership with POLARIS has been given a two-year timetable. As of now
there will be a co-operation in the sector product development, manufacture, and distribution. Both
companies shall thereby continue their business activities as independent entities. With POLARIS and
KTM, two strategic partners have found each other who can both point to exceptional economic successes
and a dominant position in their respective business sectors. Furthermore, POLARIS and KTM share a very
similar culture, in which the focal point is the “passion to ride”. The combined turnover of both
companies amounts to about USD 2.4 billion. In the past business year (2004), POLARIS Industries
Inc. achieved a turnover of approx. USD 1.8 billion. As the largest non-Japanese manufacturer of ATV’s,
snowmobiles (world market leader), 4x4 utility vehicles and (in the motorcycle segment) of the “Cruiser”
under the brand name VICTORY, POLARIS is primarily active in the North American market. Through this
co-operation, KTM can intensify its presence in North America and accelerate its entry into the ATV
segment. KTM shall supply POLARIS with KTM engines and the groundwork is being laid for KTM’s
distribution of the POLARIS product spectrum in certain Central and Eastern European markets. With
production sites on both continents there is the possibility for both companies to hedge against foreign
exchange exposure. Two strong brands, established distribution networks and above all the companies’
matching objectives – to become together the dominating power in the global POWER SPORTS business – are
the basis of this strategic alliance, from which both companies shall profit. In 2007, after a
two-year period, the partners will have the opportunity to further expand their co-operation. POLARIS and
CROSS Industries AG – the main shareholder of KTM POWER SPORTS AG - have entered into an agreement that
enables CROSS to convert KTM shares into POLARIS shares – according to an established assessment formula
– and thereby become a significant shareholder in a joint POLARIS/KTM Group.
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