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2020 Release

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Tarzan said:
The Intrepid Snowmobiler
8. desember kl. 13:32 ·

ARCTIC CAT In TROUBLE? Textron, owner of Arctic Cat snowmobiles, filed this report this week with the U.S. Securities & Exchange Commission and reading between the lines of corporate gobble-de-gook, it appears that things aren’t going well for Arctic Cat...

On December 4, 2018, our Board of Directors approved a plan to restructure the Textron Specialized Vehicles businesses within our Industrial segment. We expect to incur pre-tax charges in the range of $60 million to $85 million under this plan, which will be recorded in the fourth quarter of 2018.
Textron Specialized Vehicles has undergone significant changes since the acquisition of Arctic Cat as we have expanded the product portfolio and integrated manufacturing operations and retail distribution. As disclosed in our Form 10-Q filed for the third quarter of 2018, the operating results for these businesses were significantly below our expectations as dealer sell-through lagged despite the introduction of new products into our dealer network. Management conducted a strategic review of the Textron Specialized Vehicles businesses, which included an assessment of the acquired dealer network and go-to-market strategy for the Textron Off Road and Arctic Cat brands, as well as cost reduction initiatives throughout the Textron Specialized Vehicles businesses. The restructuring plan will result in the impairment of intangible assets, primarily related to product rationalization, the elimination of approximately 400 positions, representing approximately 10% of Textron Specialized Vehicles’ workforce, and closure of several factory-direct turf-care branch locations and a manufacturing facility. The restructuring actions under this plan are expected to result in improved operating results for these businesses.
Severance and related costs for this plan are estimated to be in the range of $10 million to $15 million. Contract termination and other facility closure charges are estimated to be in the range of $5 million to $15 million. Impairment charges are estimated to be in the range of $45 million to $55 million and largely relate to acquired intangible assets. Expected cash outlays in connection with this plan are estimated to be in the range of $15 million to $30 million, with up to $10 million in the fourth quarter of 2018 and the remainder in 2019. We anticipate that this plan will be substantially completed by the end of 2018.
Click to expand...
A Textron classic, history will repeat itself, very concerned about the job loss though, I am not a Cat fan but Cat has been a legend in the snowmobile business over the years, I hope they don't drop the line like Textron did with Polaris back in the day.
 
20/80 said:
A Textron classic, history will repeat itself, very concerned about the job loss though, I am not a Cat fan but Cat has been a legend in the snowmobile business over the years, I hope they don't drop the line like Textron did with Polaris back in the day.
Click to expand...
I truly believe Yamaha and cat could bury the competition if they play it right. Cat engineers are certainly inventive, even with the new alpha 1 rear....not afraid to try stuff. BRP bought Austrian Rotax decades ago....so Bombardier does the sled designs, Rotax the engine and clutching. Now if Yam and Cat got their act together, engineers together for cat 2 stroke development and chassis design and quality control, with Yamaha being the 4 stroke brand....I think they could both benefit. The outcome of those 2 could be much greater than just the sum...
 
SumpBuster said:
I truly believe Yamaha and cat could bury the competition if they play it right. Cat engineers are certainly inventive, even with the new alpha 1 rear....not afraid to try stuff. BRP bought Austrian Rotax decades ago....so Bombardier does the sled designs, Rotax the engine and clutching. Now if Yam and Cat got their act together, engineers together for cat 2 stroke development and chassis design and quality control, with Yamaha being the 4 stroke brand....I think they could both benefit. The outcome of those 2 could be much greater than just the sum...
Click to expand...
I thought this is what was going to happen when both companies came together 5 years ago. Instead its been 75% Cats and 25% Yamaha. I also think they could come out with something amazing but they both need to have input on design and tech. That could lead to good things or bad things.
 
One comment on this that isn't talked about much.

I was at a local snow show and had a chance to look at both a Pantera 7000 and a SRVenture DX. Same motor, same chassis, virtually identical sleds. However, the difference in fit and finish was night and day. Yamaha's fit and finish was far, far superior to Cat's. I would anticipate that this attention to detail extends under the surface as well. So regarding mixing their talents and the 1000000 posts about engine supply and catmaha blah blah blah that gets repeated, I can state from experience that a Yamaha with a cat chassis is still very, very much infused with Yamaha DNA. What that signifies to me is that as per usual, Yamaha's engineering and build quality is top shelf.
 
Sasquatch said:
Also patent for a jack shaft driven supercharger. Looks like a cat chassis with nytro front end and it all means what?
Click to expand...

It means nothing. Patent filings are for the technology being patented, not a new sled design. Yamaha uses similar drawing to current vehicles only to show location of said technology. It's not to show a prototype of a new machine at all. Anyone who thinks those are prototype drawings of coming machines are fools.

If the drawing happens to resemble an older sled model, it may have been on the drawing board that long as well. Now if the patent is something like a carbon fiber frame component, or something that would require a larger chassis (Turbo, Supercharger) then the drawing may have more relevance. Otherwise, it literally is just a basic shape to show that this patent is for a Snowmobile/snowmachine of some sort and not a wheeled vehicle like a Quad or SXS.
 
If I remember right from my sales days Cat had a ownership part of Agrifab and other non Snowmobile related businesses. Sounds like those are what Textron is getting rid of or maybe keeping and getting rid of similar line they had already. Not sleds.
 
jjmoneysauce said:
One comment on this that isn't talked about much.

I was at a local snow show and had a chance to look at both a Pantera 7000 and a SRVenture DX. Same motor, same chassis, virtually identical sleds. However, the difference in fit and finish was night and day. Yamaha's fit and finish was far, far superior to Cat's. I would anticipate that this attention to detail extends under the surface as well. So regarding mixing their talents and the 1000000 posts about engine supply and catmaha blah blah blah that gets repeated, I can state from experience that a Yamaha with a cat chassis is still very, very much infused with Yamaha DNA. What that signifies to me is that as per usual, Yamaha's engineering and build quality is top shelf.
Click to expand...
I'd love to see them assembled. I went to Valcourt and toured the ski doo factory back in 93 ( an interesting story...briefly, I just called them, said I wanted to take a tour, said I worked for GE when they asked, and they scheduled it, but thought it was a company tour...they asked me where the rest where....I got a 3 hour just me tour...LMAO! I did buy one of the first mxz''s new design...even had a prototype fiberglass hood...so they told people that's why I got special treatment....really great people)
and it was impressive...women were routing all the carb fuel lines! But there was a separate line that got attention, mainly if there was an issue. So the point is, I'm curious how the Yamahas get built better on the same assembly line...but glad they are!
 
I was at a local snow show and had a chance to look at both a Pantera 7000 and a SRVenture DX. Same motor, same chassis, virtually identical sleds. However, the difference in fit and finish was night and day. Yamaha's fit and finish was far, far superior to Cat's. I would anticipate that this attention to detail extends under the surface as well. So regarding mixing their talents and the 1000000 posts about engine supply and catmaha blah blah blah that gets repeated, I can state from experience that a Yamaha with a cat chassis is still very, very much infused with Yamaha DNA. What that signifies to me is that as per usual, Yamaha's engineering and build quality is top shelf.

Above from jjmoneysauce, I still don't know how to quote.

Anyway, it is a similar case with the Bearcat 7000XT and the VK Pro ll. Same engine in wide track work sleds. But that is where the similarity ends. The Cat was outright flakey in fit and finish while the VK was bombproof. It will be a made in Japan Yamaha for this boy.
 
Push the reply at the bottom right of who you are talking to

Yamaha didn't stop designing new sleds after the nitro, they fine tuned the cat chassis to fit the vector & turbo motors. I'm willing to bet what ever is coming in February is going to be good ... it's been waiting for a long time . & it will be mostly Yamaha design because Arctic cat money troubles won't have enough funding for them to have something new.
 
SumpBuster said:
I'd love to see them assembled. I went to Valcourt and toured the ski doo factory back in 93 ( an interesting story...briefly, I just called them, said I wanted to take a tour, said I worked for GE when they asked, and they scheduled it, but thought it was a company tour...they asked me where the rest where....I got a 3 hour just me tour...LMAO! I did buy one of the first mxz''s new design...even had a prototype fiberglass hood...so they told people that's why I got special treatment....really great people)
and it was impressive...women were routing all the carb fuel lines! But there was a separate line that got attention, mainly if there was an issue. So the point is, I'm curious how the Yamahas get built better on the same assembly line...but glad they are!
Click to expand...
Maybe Yamahas are built first shift and AC second and third? I doubt it works that way but who knows. Something I have found to be pretty interesting is my Arctic Cats fit and finish is actually pretty good but my buddy with the same sled is not very good. I wonder if the plastics coming out of the dies change shape a bit when they cool causing them to get out of tolerance. I'm sure not every piece of plastic is inspected. Just a thought but it could be why some sleds are better then others while getting assembled on the same line.
 
Yamaha didn't stop designing new sleds after the nitro, they fine tuned the cat chassis to fit the vector & turbo motors. I'm willing to bet what ever is coming in February is going to be good ... it's been waiting for a long time . & it will be mostly Yamaha design because Arctic cat money troubles won't have enough funding for them to have something new.
Click to expand...




I sure hope so. I’m on the fence for a new spring order 2020.
 
Last edited by a moderator:
Tarzan said:
The Intrepid Snowmobiler
8. desember kl. 13:32 ·

ARCTIC CAT In TROUBLE? Textron, owner of Arctic Cat snowmobiles, filed this report this week with the U.S. Securities & Exchange Commission and reading between the lines of corporate gobble-de-gook, it appears that things aren’t going well for Arctic Cat...

On December 4, 2018, our Board of Directors approved a plan to restructure the Textron Specialized Vehicles businesses within our Industrial segment. We expect to incur pre-tax charges in the range of $60 million to $85 million under this plan, which will be recorded in the fourth quarter of 2018.
Textron Specialized Vehicles has undergone significant changes since the acquisition of Arctic Cat as we have expanded the product portfolio and integrated manufacturing operations and retail distribution. As disclosed in our Form 10-Q filed for the third quarter of 2018, the operating results for these businesses were significantly below our expectations as dealer sell-through lagged despite the introduction of new products into our dealer network. Management conducted a strategic review of the Textron Specialized Vehicles businesses, which included an assessment of the acquired dealer network and go-to-market strategy for the Textron Off Road and Arctic Cat brands, as well as cost reduction initiatives throughout the Textron Specialized Vehicles businesses. The restructuring plan will result in the impairment of intangible assets, primarily related to product rationalization, the elimination of approximately 400 positions, representing approximately 10% of Textron Specialized Vehicles’ workforce, and closure of several factory-direct turf-care branch locations and a manufacturing facility. The restructuring actions under this plan are expected to result in improved operating results for these businesses.
Severance and related costs for this plan are estimated to be in the range of $10 million to $15 million. Contract termination and other facility closure charges are estimated to be in the range of $5 million to $15 million. Impairment charges are estimated to be in the range of $45 million to $55 million and largely relate to acquired intangible assets. Expected cash outlays in connection with this plan are estimated to be in the range of $15 million to $30 million, with up to $10 million in the fourth quarter of 2018 and the remainder in 2019. We anticipate that this plan will be substantially completed by the end of 2018.
Click to expand...



Don't put too much onus on this article as most knew this was coming A year ago. When Textron bought Cat they were also making many moves in the turf business with Jacobson and Dixie Chopper and at the same time looking at what jobs would be phased out with amalgamation of operations moving from two plants(Stampede and Cat) to one. When they did that there were many jobs that were overlapping. In the last 6 months many older and costlier engineers have taken forced retirements(Greg Spaulding who created the firecat motors and many others) and layoffs. Most of the costs however are for the closing of Jacobson dealerships and Dixie Chopper dealerships and the costs to close them down. I was told that Textron had a 4-5 year window to make this work and they are currently ending year 2. They have some really good stuff coming out now and the 19 sleds are damn nice machines. The Alpha is the real deal and will change the mountain segment as it rocks from reviews in Western forums. Cat and Yamaha for better or worse are tied to each other and from what I have been told, there are some very unique and powerful machines coming to the market. Don't know what but my source has been right most of the time with what he tells me. He has been very tight lipped as of late but I knew this stuff a while ago and thought I would share. My bet is that you will see a single beam suspended yamaha for the mountain in the spring in more than one iteration. Perhaps one that is smaller single cylinder 5-600 cc fourstroke with a single beam suspension to replace the snowbike idea. That would be cool and at the same time something similar for the trail as from what I am told the Alpha is actually pretty descent on the trail and feels roughly the same as a twin beam suspension on trail. Should be interesting to see what happens. If they cannot make it profitable, I could see yamaha buying the patents and chassis division and Yamaha goes on with the products as youi see it with perhaps adding their own ideas to the mix. I would be willing to bet that they already have agreements in place to cover themselves in the event Textron were to pull a parachute. Just something to think about.


Jester
 
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