BRP and Arctic Cat Have Reached a Global Settlement
November 02 2020 - 9:00AM
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 BRPWe are a global leader in the world of
powersports vehicles, propulsion systems and boats, built on over
75 years of ingenuity and intensive consumer focus. Our portfolio
of industry-leading and distinctive products includes Ski-Doo and
Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road
vehicles, Alumacraft, Manitou, Quintrex, Stacer and Savage boats,
Evinrude and Rotax marine propulsion systems as well as Rotax
engines for karts, motorcycles and recreational aircraft. We
complete our lines of products with a dedicated parts, accessories
and apparel business to fully enhance the riding experience. With
annual sales of CA$6.1 billion from over 120 countries, our global
workforce is made up of approximately 12,600 driven, resourceful
people.
www.brp.com @BRPNews
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Evinrude,
Manitou, Alumacraft, Quintrex, Stacer, Savage and the BRP logo are
trademarks of Bombardier Recreational Products Inc. or its
affiliates. All other trademarks are the property of their
respective owners.
For BRP media
enquiries: |
For Arctic Cat media
enquiries: |
|
|
Elaine Arsenault |
Brandon Haddock |
Senior Advisor, Media Relations |
Director, Communications |
Tel.: 514.238.3615 |
Tel.: 706-798-4311 |
media@brp.com |
bhaddock@textron.com |
Textron (NYSE:TXT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Textron (NYSE:TXT)
Historical Stock Chart
From Sep 2023 to Sep 2024