Monday, September 17, 2007

Polaris denies plans to build plant in SE Europe

BUCHAREST, Sept 14 (Reuters) - Snowmobile and motorcycle maker Polaris Industries Inc. (PII.N: Quote, Profile, Research) denied on Friday that it plans a 50 million-euro ($69-million) snowmobile plant in Romania or Bulgaria.

"Officially there is nothing planned related to such a subject and we strongly deny any implication of Polaris on this subject," Bogdan Gheorghiu, regional director for Romania, Bulgaria and Moldova, said in a statement in English sent to Reuters.

Earlier on Friday Gheorghiu had told Reuters the company has plans to hire up to 800 people for such a plant and 80 percent of its output, estimated at 60,000 units in the first year, would be exported to other European Union countries.

But asked about the subsequent denial, Gheorghiu later told Reuters by telephone that he had been wrongly informed about such a plan.

He had said Polaris would make the investment in the second half of next year and the company planned for a yearly turnover of 250 million euros.

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