BRP AND CAT REACH GLOBAL SETTLEMENT
Bombardier Recreational Products Inc. (“BRP”) (TSX: DOO; NASDAQ: DOOO) and Arctic Cat Inc. ("Arctic Cat"), a Textron Inc. (NYSE:TXT) company, have reached a global settlement of the ongoing intellectual property disputes between them.
Under the terms of the confidential settlement agreement, the two court cases still active between the parties in the US and in Canada will be dismissed.
Among the matters resolved is the dispute related to BRP's rider-forward patents and Arctic Cat's full-size snowmobiles with pyramidal frame designs.
As a result, Arctic Cat and its Canadian dealers will be allowed to immediately resume the sale and delivery of its full lineup of snowmobiles in Canada.
Arctic Cat and BRP have pledged to continue to work together for the betterment and expansion of the snowmobile industry for all riders and associations.
About Arctic Cat - The Arctic Cat brand is iconic in the powersports industry, with nearly 60 years of designing and manufacturing leading snowmobiles, side-by-sides and ATVs that are renowned the world over for their power and performance. Arctic Cat snowmobiles, side-by-sides, ATVs and affiliated products are designed and manufactured in Thief River Falls, Minn. by Arctic Cat Inc., a Textron Inc. (NYSE: TXT) company that operates as part of Textron’s Specialized Vehicles business.
For more information, visit: arcticcat.com.
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