Valcourt, Quebec, November 2, 2020 – Bombardier Recreational Products Inc (“BRP”) (TSX:DOO; NASDAQ: DOOO) and Arctic Cat Inc (“Arctic Cat”), a Textron Inc (NYSE:TXT) company, have reached a comprehensive settlement between them regarding ongoing intellectual property litigation. Under the terms of the confidential settlement agreement, the two pending cases still active between the parties in the United States and Canada will be closed.
Among the matters resolved are BRP’s patent litigation related to forward-facing steering positioning and Arctic Cat’s full-size pyramid frame snowmobiles. As a result, Arctic Cat and its Canadian dealers will be permitted to immediately resume the sale and delivery of their full line of snowmobiles in Canada.
Arctic Cat and BRP are committed to continuing to work together to improve and develop the snowmobile industry for all snowmobilers and associations. https://arcticcat.txtsv.com
About Arctic Cat
The Arctic Cat brand is an icon in the powersports industry, with nearly 60 years of designing and manufacturing industry-leading snowmobiles, side-by-sides and ATVs that are known around the world for their power and performance. Arctic Cat snowmobiles, side-by-sides, ATVs and related products are designed and manufactured in Thief River Falls, Minnesota, by Arctic Cat Inc. a Textron Inc. company (NYSE: TXT), part of Textron’s Specialty Vehicles Division. For more information, visit: www.arcticcat.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aerospace, defense, industrial and financial businesses to provide innovative solutions and services to its customers. Textron is known worldwide for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems and TRU Simulation + Training. For more information, please visit www.textron.com.
