By Business Wirevia The Motley Fool
Filed under: Investing
Polaris Acquires Aixam Mega
Expertise in On-Road Quadricycles and Light Duty Commercial Vehicles
Complements Polaris’ Existing Product Portfolio
MINNEAPOLIS–(BUSINESS WIRE)– Polaris Industries Inc. (NYS: PII) today announced the acquisition of A.M. Holding S.A.S., which operates under the name Aixam Mega S.A.S., a privately owned company based in Aix-les-Bains, France which manufactures and sells enclosed on-road quadricycles and light duty commercial vehicles in Europe. The acquisition of Aixam Mega significantly strengthens Polaris’ existing small vehicle portfolio, which includes GEM and Goupil vehicles, and enhances the profitability and growth potential of Polaris in the EMEA region.
Though it may appear to be an automobile, this Aixam City S, like all Aixam vehicles, is a four-wheeled, enclosed quadricycle, characterized by its light weight, low speed and ability to be operated without a full automobile driver’s license in many European countries, where the vehicles are sold. Medina, Minn.-based Polaris Industries Inc. acquired Aixam Mega S.A.S., makers of both Aixam and Mega vehicles, earlier this week. The move strengthens Polaris’ existing small vehicle portfolio, which includes Global Electric Motorcars and Goupil. (Photo Credit: Aixam Mega S.A.S.)
“Aixam Mega is an excellent fit with Polaris and offers a unique opportunity for us to expand our small vehicle platform and accelerate international growth,” said Scott Wine, Polaris Chairman and CEO. “We are committed to positioning Polaris as a global leader in the growing small vehicle market and this investment reaffirms Polaris’ commitment to building a global business capable of delivering long-term, profitable growth. Consistent with our recently announced plan to build a new manufacturing facility in Opole, Poland, the Aixam Mega business acquisition is indicative of our confidence in EMEA to be a contributor to Polaris’ pursuit of productivity, innovation and growth. “
Aixam Mega designs, manufactures and sells both passenger and light duty commercial quadricycles under the Aixam and Mega brands. Aixam Mega‘s quadricycles are four-wheeled, on-road enclosed vehicles characterized by their light weight, low speed and ability, in many countries, to be operated without a full automobile driver’s license. Founded in 1983, the company
From: http://www.dailyfinance.com/2013/04/11/polaris-acquires-aixam-mega/