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(KNSI) — Arctic Cat parent company Textron, Incorporated, said in its Securities and Exchange Commission filing Wednesday that it plans to shut down its factories in St. Cloud and Thief River Falls.

Citing ongoing business conditions, including inflation and softening demand, the company says it is looking for “strategic alternatives” for the brand. An industry insider says it appears Textron has been shopping the brand as it spun Arctic Cat off to be overseen by E-Z-GO, a designer and manufacturer of light transportation vehicles. They say that typically happens when a company tries to separate itself for a sale.

Aside from snowmobiles, Arctic Cat also manufactures ATVs and side by sides.

Workers will fulfill orders, and once those limited production runs are satisfied, production of powersports products “will be paused indefinitely in the first half of 2025.”

Textron bought Arctic Cat for $247 million in 2017 and operates it under its Textron Specialized Vehicles sector.

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