Polaris marks anniversary, lays off 60 workers, hits ATV benchmark
Author: Dealernews

In a spate of newsworthiness, Polaris Industries marked 20 years of building ATVs, counted the two millionth ATV to come off its assembly line, and laid off 60 employees nationwide due to slow snowmobile sales.

Of the latter, the Minnesota-based OE layoffs targeted the company's 3,800 employees across the country. Spokeswoman Marlys Knutson says the forced reduction was caused by a decrease in snowfall in the last seven years and an increase in gas and manufacturing costs.

Employees of Polaris' Roseau, MN, plant were offered positions in the factory's production line, and all workers received severance packages, Knutson told the Grand Forks Herald. The decision comes after Polaris reported a record $19.1 million net income in the first quarter of 2005, attributed to high sales of ATVs and decreased operating expenses.

In other news, Polaris celebrated its 20th year of building ATVs--its first models being the Scrambler three-wheeler and the Trail Boss four-wheeler, both built in 1985. The company went on to launch the popular Sportsman model in 1995. Since then, it's sold more than 715,000 of the models.