Polaris Industries and Bobcat Co. have reached a long-term agreement to jointly enter work-related market segments globally, the companies said in a press release.
The alliance will include sharing technology and co-developing highly differentiated work vehicles by the second half of 2010.
Scott Wine, CEO of Polaris, said the alliance correlates with the company’s strategy, “of diversifying Polaris beyond our core powersports segments and will enhance our efforts to accelerate the growth of our military and international businesses.
“Initially, Polaris will produce and sell highly differentiated work vehicles to Bobcat for sale through the Bobcat dealer network. The breadth and depth of our cooperative efforts will expand thereafter to include co-developed vehicles for both Polaris and Bobcat and further technology sharing.”
Richard Goldsbury, president Bobcat Americas, added in the release, “We are combining the strengths of the No. 1 compact construction equipment manufacturer with those of the No. 1 off-road vehicle manufacturer to deliver innovative product solutions for our customers. This alliance will enable both companies to extend our customer bases and provide profitable growth.”