Arctic Cat making $27M investment at Minnesota facilities

AP News
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Posted: May 13, 2015 12:18 PM

PLYMOUTH, Minn. (AP) — Arctic Cat plans to make a nearly $27 million investment in its facilities at two locations in Minnesota.

The snowmobile and all-terrain vehicle manufacturer says most of the improvements will be in Thief River Falls where it will add a new production line, along with 39 jobs.

In St. Cloud, Arctic Cat will invest about $400,000 to expand its engine manufacturing facility and add 10 positions.

On Wednesday, the company reported a loss of $21.5 million in its fiscal fourth quarter. Arctic Cat posted revenue of nearly $99 million for the period, against Wall Street analysts' expectations of $111 million.

Arctic Cat shares have dropped 1 percent since the beginning of the year.