BRP COMPLETES THE ACQUISITION OF THE SHAWINIGAN OPERATIONS OF KONGSBERG INC.
BRP Inc. (TSX:DOO) (NASDAQ:DOOO) has successfully acquired the powersports assets of Kongsberg Inc. in Shawinigan, Quebec. This strategic acquisition aligns with BRP's electrification strategy, enhancing its expertise in mechatronics and innovation capabilities. The company welcomes over 300 skilled employees from Kongsberg, further strengthening its workforce. With an annual revenue of CA$7.6 billion, BRP aims to leverage this acquisition to expand its product offerings and maintain its competitive edge in the powersports industry.
- Acquisition of Kongsberg's Shawinigan assets reinforces BRP's position in the electrification of powersports.
- Addition of over 300 specialized employees enhances innovation and product development.
- None.
VALCOURT, QC, Oct. 3, 2022 /PRNewswire/ - BRP Inc. (TSX:DOO) (NASDAQ:DOOO) announces that it has completed the previously announced acquisition of substantially all the assets related to the powersports business of Kongsberg Inc. in Shawinigan, Quebec (henceforth referred to as "KA Shawinigan"), a subsidiary of Kongsberg Automotive ASA.
KA Shawinigan is a leading player in the development and manufacturing of electronic and mechatronic products and a long-standing supplier of BRP. This acquisition is in line with BRP's product strategy, particularly as it relates to its electrification plan. It is expected to allow the Company to gain further expertise in mechatronics and bolster its innovation capabilities.
BRP is pleased to welcome over 300 highly trained and skilled employees, specialized in developing and manufacturing key components for many of its product lines.
Certain information included in this release, including, but not limited to, statements relating to the anticipated benefits associated with the completion of this acquisition, the Company's business and strategic plans, and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP's annual information form dated March 24, 2022.
We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel portfolio to fully enhance the riding experience. With annual sales of CA
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
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SOURCE BRP Inc.
