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13th
February 2006
ORBITAL
SIGNS NEW TECHNOLOGY LICENSE WITH POLARIS INDUSTRIES
PERTH,
AUSTRALIA:
Orbital Corporation Limited today announced a new license with Polaris
Industries Inc. for its air assisted direct injection (OCP™)
technology.
Polaris Industries Inc. of Minnesota,
USA has entered into a license to manufacture certain products utilising
Orbital's DI technology.
Polaris has been in business since 1954, starting
off in the manufacture of snowmobiles and growing quickly to become
a major player in this recreational market. With annual sales in
2005 of US$1.9 billion, Polaris designs, engineers, manufactures
and markets snowmobiles, all-terrain vehicles (ATVs), Victory motorcycles
and the Polaris RANGER for recreational and utility use.
The Polaris license agreement is significant
for Orbital in that it opens up fresh commercial applications for
its technology beyond traditional lines in the automotive, outboard
engine and motorcycles sectors.
Orbital Chief Executive Officer Dr. Rod
Houston said "Polaris is a very good licensee for Orbital given
its strong presence in the recreational market. "
"It is a recognised leader in the
snowmobile industry and one of the largest manufacturers of all
terrain vehicles (ATVs) in the world," said Dr. Houston.
"The license agreement is quite
wide-ranging in its potential product applications and could lead
to a number of new products utilising air assist DI with associated
royalty revenue streams."
Dr Houston said the latest license agreement
was further evidence of the commercial importance and the environmental
benefits of Orbital's direct injection technology.
"Emission controls are becoming
tighter for a wide range of motorised vehicles and our technology
delivers the required environmental effect along with technical
excellence and commercial benefit," he said.
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