Polaris Is on the Move
Courtesy Polaris
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E-mailImagine driving to work on your snowmobile or parking your all-terrain vehicle in the office lot. At Polaris Industries Inc. (PII), it’s a regular occurrence and a natural part of the company culture, says CEO Scott Wine.
The Medina, Minn.-based company, which manufactures vehicles including snowmobiles, Victory motorcycles and four-wheelers, says innovation and expansion are top priorities for 2010. In addition to celebrating the 15th anniversary of its listing on the NYSE, Polaris began the year with the acquisition of the powersports division of Swissauto Wenko AG, a Swiss-based designer and developer of engines and vehicles. Wine says the acquisition is helping the company focus on international growth. “With only 16 percent of our sales outside North America, we see expanding into global markets as a core part of our growth,” he says.
Under Wine, CEO since 2008, Polaris has launched 34 new products, hired a general manager in Shanghai to run its Asian operations, and this year began selling products through a local distributor in the Chinese market. Wine says the Swissauto acquisition gives Polaris a design house in Switzerland to support servicing its European customer base and the rights to several Swissauto engines, allowing Polaris to take innovative technologies into new markets. “The time was right because we’re always looking to be more productive and to grow profits faster,” Wine says. “The acquisition really helps in both of those areas.
