ASV Inc. recently announced the signing of a licensing agreement that allows Polaris Industries, Inc., one of the world’s largest all-terrain vehicle manufacturers, to sell an ASV-built, rubber track, all-surface utility loader similar to ASV’s new RCo30.

The agreement gives Polaris the right to market and sell the utility loader under its own nameplate through its worldwide dealer network. Polaris will purchase the machines, as well as parts and attachments, directly from ASV. The agreement also provides the option at some future point for Polaris to manufacture the machines under a royalty arrangement if volume exceeds ASV’s competitive capabilities.

ASV will continue to market and sell its RCo30 under the ASV brand name through its own dealer network.

"The RCo30 has been enthusiastically greeted by landscapers, who can now perform heavy, difficult work while also being gentle to terrain such as turf and sensitive foundations," said ASV President Gary Lemke. "We know the landscape market is large, and our RCo30 dealers are aggressively targeting that market. However, with Polaris dealers selling a similar machine, we’ll reach customers we might not otherwise reach, such as those within the large hobby market."

Lemke added that it was critical that the ASV technology be available both through its growing RCo30 dealer network, as well as through an existing, nationwide dealer network, such as Polaris.

"The all-surface utility loader is a unique machine we believe will help us reach our growth goals," said Tom Tiller, Polaris president and chief executive officer. "It is the next logical step for Polaris following our successful ATV line-up of products, which are primarily used for utility applications, and our RANGER commercial vehicle. Polaris is pleased to be working with an innovative company like ASV. We believe the partnership will be a winning combination."

The agreement calls for ASV to begin building the Polaris machines immediately, with the expectation that machines will reach Polaris dealers in the first quarter of 2001.

The agreement with Polaris comes just two months after ASV signed an alliance agreement with Caterpillar to jointly build new Caterpillar branded products utilizing ASV’s unique rubber-track technology. The Polaris agreement is independent of any agreements with Caterpillar, which owns approximately 15 percent of ASV.

Continuing Lemke said, "We believe these new agreements with Caterpillar and Polaris could account for additional sales for ASV of approximately $20 million in 2001. This will help ASV reach its goal of $100 million in sales in 2002."

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