KYB and Yamaha Motor to Establish a Joint Venture

JAPAN – January 29, 2013 – (Motor Sports Newswire) – KYB Corporation and Yamaha Motor Co., Ltd., have decided to form a jointly owned business as follows:

Purpose of the Joint Venture

By combining the resources and know-how of KYB, a manufacturer of hydraulic shock absorbers, and Yamaha Motor, a manufacturer of motorcycles, the two companies plan to establish a global supply capability for motorcycle hydraulic shock absorbers and other products. The goal is to sell products with the best performance and quality in the world at competitive prices. Plans call for selling these products to motorcycle manufacturers worldwide, including Yamaha Motor.

Outline of the Joint Venture

Company name:	KYB Motorcycle Suspension Co., Ltd.
Formation method:	The motorcycle operations of the automotive components business of KYB will be divested on July 1, 2013 (tentative) to form a new company, and then part of the shares of this company will be sold to Yamaha Motor.
Representative:	Nobumichi Hanawa (Currently General Manager, Motorcycle Engineering Dept., Automotive Components Operations KYB Corporation)
Location:	Head Office: Dota, Kani-shi, Gifu, Japan Iwata Development Office: 2500 Shingai, Iwata, Shizuoka, Japan
Start of operations:	July 1, 2013 (tentative)
Principal business:	Development, manufacture, and sale of hydraulic shock absorbers and other products (such as suspensions) for motorcycles and other vehicles and development and manufacturing assistance to other companies
Paid-in capital:	¥400 million ($4.4 million UDS)
Ownership:	KYB 66.6% Yamaha Motor 33.4%

Outline of KYB

Trade name:	Kayaba Industry Co., Ltd
Representative:	Masao Usui, President and Representative Director
Location:	4-1, Hamamatsu-cho 2-chome, Minato-ku, Tokyo, Japan
Date of establishment:	November 25, 1948
Principal business:	Manufacture and sales of hydraulic shock absorbers, hydraulic equipment, etc.
Net sales:	¥337.1 billion ($3.7 billion USD) (fiscal 2011, consolidated)
Number of employees:	12,012 (As of March 31, 2012, consolidated)

Outline of Yamaha Motor

Trade name:	Yamaha Motor Co., Ltd.
Representative:	Hiroyuki Yanagi, President, Chief Executive Officer and Representative Director
Location:	2500 Shingai, Iwata, Shizuoka, Japan
Date of establishment:	July 1, 1955
Principal business:	Manufacture and sales of motorcycles, transportation equipment, etc.
Net sales:	¥1,276.2 billion ($14 billion USD) (fiscal 2011, consolidated)
Number of employees:	54,677 (As of December 31, 2011, consolidated)

Other Information

Overseas cooperation between KYB and Yamaha

As part of its global collaborative business operations, KYB established a company in India in December 2012 for the manufacture and sale of hydraulic shock absorbers for motorcycles. In 2014, this company plans to start supplying hydraulic shock absorbers for motorcycles to the Chennai Factory of India Yamaha Motor Pvt. Ltd. KYB’s goal is to use its company in India to manufacture and sell products that are cost competitive and rank among the best in the world. In July 2013, KYB plans to have its company in India issue stock for sale to Yamaha Motor. This sale will make the subsidiary a joint venture that will be 66.6% owned by KYB and 33.4% owned by Yamaha Motor.

Company name:	KYB Motorcycle Suspension India Pvt. Ltd.
Date of establishment:	December 11, 2012
Representative:	Hideo Inaguma
Location:	Chennai, Tamil Nadu, India
Paid-in capital:	600 million Indian Rupees (Approx. ¥1 billion)
Ownership:	KYB 100%
Production volume:	285,000 in 2014, 1,600,000 in 2018 (planned)

Reference “Procurement strategies in the new medium-term management plan”

Yamaha Motor Co., Ltd. (the “Company”) announced its new medium-term management plan on December 18, 2012, which will work towards expanding the Company’s business scale and improving its profitability, all with the aim to increase its corporate value through sustained growth.

The establishment of the Company’s recent joint venture with KYB Co., Ltd is a realization of the procurement strategy at the heart of the new medium-term management plan. This initiative aims to further strengthen product competitiveness as well as improve profitability by combining the strengths of each company.

The plan targets 90 billion yen of cost reductions in 2015 and concentrates 65% of total procurement by value on platform (PF) components in an effort to increase the benefits of larger-scale production. In addition, the Company announced that it will further promote collaboration with suppliers referred to as “global partners” in areas such as theoretical-value-based production and Zensuu Ryouhin Process Activities*

Suspension components produced through this joint venture will be the Company’s largest platform components in terms of procurement value, and among the most important components that contribute to the nature of the products. This initiative which allows for the development and production of main components at the joint venture company will not only increase product competitiveness and reduce costs, but will also contribute to improvement in innovation, technology, and brand image.

Concurrently, the Company will participate by means of a strategic investment in KYB’s new suspension manufacturing plant to be located in the Vendor Park adjacent to the new motorcycle assembly plant scheduled for construction in Chennai, India, in order to further improve product competitiveness in the Indian market while taking up the challenge of achieving the most cost-competitive manufacturing in the world.

*Zensuu Ryouhin Activities: Activities pertaining to the Zensuu Ryouhin Process, a process that allows for the logical designing and sustenance of consistently high-quality products.

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Viper announces Joint Venture Lozano Brothers Porting, Baker Drivetrain and Rush Racing Products

AUBURN, AL – October 27, 2012 – (Motor Sports Newswire) –  Viper Motorcycle Company, a wholly owned division of Viper Powersports, Inc. (OTCQB: VPWI) announced today that it has signed a Joint Venture Agreement with Motorsports Industry Leaders Lozano Brothers Porting, Baker Drivetrain, and Rush Racing Products.

“Viper is proud to be working with three great American companies like LBP, Baker Drivetrain & Rush Racing Products.  They will provide engineering support, along with co-branding & marketing of OEM & aftermarket parts for our Viper Motorcycles, the world’s most powerful production American made V-Twin Motorcycles,” stated Colbert Seagraves, Viper Motorcycle Company’s Vice-President of Marketing and Racing Operations.

Lozano Brothers Porting will provide engineering support along with Research & Development help on Viper special projects.  With over 30 years of unparalleled success in all types of racing & engine configurations LBP will be a key part as we move forward with our NHRA Pro Stock Motorcycle Team.

Baker Drivetrain will supply and manufacture all co-branded proprietary drivetrain components for all Viper models.  Baker is recognized as the industry leader in premium drivetrain solutions for American V-Twins.

Rush Racing Products will supply co-branded OEM & Aftermarket Exhaust systems along with state of the art custom ceramic brake rotors.  They are recognized as a growing global leader in the aftermarket exhaust industry.

ABOUT VIPER POWERSPORTS, INC
Viper Powersports designs, manufactures and markets a line of premium American V-Twin Super Cruiser motorcycles, V-Twin aftermarket engines and other related aftermarket products through an independent dealer network. Joint venture partner Ilmor Engineering (www.ilmor.com), provides technical developmental support for the proprietary 152 cubic inch Viper V-Twin engine, utilizing their 25 years of engine design expertise, ensuring Viper’s long term success as America’s newest domestic OEM of motorcycles.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements, which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements.

For more information visit our website at www.vipermotorcycle.com
Viper Motorcycle Contact:
Colbert Seagraves (334) 321-4284
Email: cseagraves@vipermotorcycle.com

SOURCE: Viper Powersports, Inc

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Polaris Enters Joint Venture with Eicher Motors Limited

Partnership creates new operation in India, expanding the Company’s global footprint

MINNEAPOLIS, MN – July 24, 2012 – (Motor Sports Newswire) – Polaris Industries Inc. (NYSE: PII) today announced a joint venture with Eicher Motors Limited, a leading manufacturer of commercial vehicles and motorcycles in India. The joint venture will develop and market new products to meet the diverse vehicle needs in India and other emerging markets. The agreement creates a new operation, wherein Polaris and Eicher each control 50 percent. The overall investment is expected to be approximately $50 million, shared equally between the partners over a three-year period.

Polaris Industries Inc. CEO Scott Wine (right) and Eicher Motors Limited CEO and Managing Director Siddhartha Lal (left) happily shake hands after signing an agreement for their companies to enter into a joint venture. Both men expressed great excitement about the potential of this new joint venture, in which the companies will cooperatively develop new products for India and other emerging markets. (Photo: Polaris Industries Inc.)

“This agreement instantly expands and enhances Polaris’ presence in India and supplying access to additional emerging markets around the globe and leverages Polaris’ strength in product innovation and vehicle development,” said Scott Wine, Polaris CEO. “Eicher’s financial strength and rich history as a leader in the Indian market makes them the perfect partner for Polaris in India. This joint venture represents an incredible opportunity to develop new vehicles and realize global growth.”

Eicher is a well-established, powerful brand in India. The company today is comprised of Royal Enfield, an iconic motorcycle brand, and VE Commercial Vehicles Limited (VECV), a 50/50 venture with Volvo. VECV, established in 2008, manufactures and markets medium-to-heavy-duty trucks and buses, engineering components and provides engineering design solutions. Between its two business divisions, Eicher has a dealer network with more than 400 locations in India.

“At Eicher Motors Limited, we are committed to long term growth and value creation for our stakeholders through both organic and inorganic expansion,” said Siddhartha Lal, managing director and CEO, Eicher Motors Limited. “This joint venture strongly supports our strategic direction. Currently, we are active in the commercial vehicle and motorcycle categories. Collaborating with Polaris allows us to enter new profitable vehicle segments.”

The joint venture will benefit from the complementary and shared strengths each partner provides, utilizing these collective talents to co-develop new products for emerging markets. Polaris’ unmatched innovation in engineering and design, paired with Eicher’s powertrain expertise, economical engineering and knowledge of local markets create a powerful combination. The companies’ shared dedication to manufacturing excellence and responsible management further strengthens this partnership.

While strategies are still under discussion, Eicher and Polaris plan to cooperatively build a new manufacturing facility to support this joint venture, with production projected to start in 2015.

About Polaris
Polaris is a recognized leader in the powersports industry with annual 2011 sales of $2.7 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polaris.com.

About Eicher Motors Limited
Eicher Motors Limited, incorporated in 1982, is the flagship company of the Eicher Group in India and a leading player in the Indian automobile industry. Its 50-50 joint venture with the Volvo group, VE Commercial Vehicles Limited, designs, manufactures and markets reliable, fuel-efficient commercial vehicles of high quality and modern technology, engineering components and provides engineering design solutions. Eicher Motors manufactures and markets the iconic Royal Enfield motorcycles. In 2010, Eicher Motors crossed the USD 1 billion mark in revenues.

Please visit our website: www.eicher.in.

SOURCE: Polaris Industries Inc.

Polaris Industries Inc.
Marlys Knutson, 763-542-0533
marlys.knutson@polaris.com

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Powin Corporation Announces Joint Venture to Build, Market “Green” Energy Products

– Could Increase Annual Revenues By Ten Percent –

TIGARD, OR – May 17, 2011 – (Motor Sports Newswire) – Powin Corporation (OTC BB: PWON), an Oregon-based OEM and direct manufacturer, today announced that its wholly-owned subsidiary, Powin Energy, has entered into a Strategic Cooperation Joint Venture Agreement with Shandong RealForce Enterprises Co., Ltd., (RFE) Jining City, Shandong Province, China, to produce lithium-ion batteries, storage batteries, energy storage power plants, solar cells and related energy products.

The products will be developed and produced in China.  They will be marketed in the United States, Canada, Mexico and the Republic of South Africa by Powin Energy, which is working toward becoming a global leader in the manufacture and distribution of wind, solar, battery, energy efficient lighting products and OEM parts.

“We believe this joint venture gives Powin Corporation the realistic expectation of increasing its sales by ten percent within one year,” said Ronald Horne, Powin Chief Financial Officer.  The Company announced 2010 sales totaling $48 million, up 31 percent compared to 2009.

The new joint venture is named RealForce-Powin, LLC and will be located at Powin Corporation headquarters in Tigard, Oregon.

The total current investment at RFE is $1.2 billion (U.S.) and RFE has more than 2,200 employees, with approximately 200 in its research and development department.  Its lithium batteries are especially well known, with long cycle life, high energy density, low self-discharge rate, consistent, safe and reliable operation, rapid charging and green, environmentally friendly properties.

“There is a worldwide demand for the products which the joint venture will be manufacturing and marketing,” said Mr. Horne.  ”We believe this joint venture is the most important in the history of the Powin Corporation and we look forward to keeping our investors updated on our accomplishments and progress.”

About Shandong RealForce Enterprises Co., Ltd.

Shandong RealForce Enterprises Co., Ltd. (RFE) http://www.trade.cn/companies/2410/shandong-realforce-enterprises-co-ltd.htm is a high-tech incorporated business firm engaged in manufacturing and sales of lithium batteries and R&D. With picturesque Weishan lake as a backdrop,  Jinghu high-speed railway and Jingfu highway close by,  RFE’ s central location in Shandong, China brings great conveniences to businesses and customers alike. RFE’s products include lithium batteries, battery chargers, battery management systems (PCM and BMS). Products are widely applicable to E-bikes, E-motorcycles, EVs, golf carts, lawn mowers, electric tools and toys, portable power supply, safe mining equipments, UPS for hospital, electric power and chemical industry, EPS, telecommunication backup power, photovoltaic and wind power storage, and smart grid storage systems. Batteries can also be used in digital apparatus such as laptop computers, LED torches, digital products and medical equipment. Besides the Shandong headquarters, RFE also has sales centers in Beijing, Shanghai and Shenzhen in China, and branch offices in USA, Germany and Korea to provide convenient technology and business support to customers.

About Powin Corporation

Powin Corporation was founded in Tigard, Oregon in 1990 by Joseph Lu, a Chinese-American, and has grown into a large international distributor of more than 2,000 original equipment manufacturer products annually as well as being a direct manufacturer.  It leases two plants in Oregon and contracts with six in Mainland China and two in Taiwan.  In February 2011 the Company opened a metal manufacturing plant in Mexico and in March 2011 the Company received its registration to open a branch office in the Republic of South Africa.  For more information please visit:  www.Powin.com.

Contact:
Powin Corporation
Ronald Horne, CFO, 503.598.6659 x 19
ronaldh@powin.com

Paul Knopick
E & E Communications
pknopick@eandecommunications.com
949.707.5365

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company’s growth and profitability, growth strategy, liquidity and access to public markets, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

SOURCE: Powin Corporation

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Hero Group is looking to buy out Honda Motors stake in their joint venture

By HARSH JOSHI

October 19, 2010 – (Motor Sports Newswire) – When it comes after 26 years of a seemingly happy marriage, talk of separation usually sparks more questions than answers. The possible end of a partnership that created India’s biggest motorcycle maker—Hero Honda Motors—is no exception.

India’s Hero Group is looking to buy out Honda Motors’ 26% stake in the joint venture and needs to raise about $2 billion to do so. Hero already owns 26% of the company, with the rest held by other investors. It is still early; Hero is only just putting together a team of bankers to help it find the money, and both companies are quiet about their intentions.

But if it strikes a deal, Hero is going to have to answer a number of questions for the rest of Hero Honda’s shareholders.

For starters, what is Hero going to do about its lack of research and development facilities? Honda’s role in the joint venture is to provide technology, and its agreement to do so will come up for review in 2014. Will it continue the pact, without a stake in the company, and if so, at what cost? Even with Honda as a co-owner, Hero’s royalty payments on technology have been rising faster than sales, reaching $90 million in the year to March.

Second, what is going to happen to the “Honda” in the brand? The Japanese name adds a premium to the company’s products that Hero can’t offer on its own.

Critically, for Honda, this wouldn’t be a an exit from India’s motorcycle market, which still boasts four times the number of sales as the nation’s car market. Honda has been selling its own bikes in India for nearly a decade, targeting mostly higher-end consumers. It is in the process of building a second factory with the aim of expanding its production there by nearly 40% and increasingly competing with Hero Honda for entry-level buyers.

The risk for Hero Honda’s shareholders is that the Japanese company won’t be eager to prop up a rival with technology, or its brand, without a stake in that company’s success.

To be sure, Hero Honda’s grip won’t be easy to erode. The company commands about 44% market share in the market; it is seen as a home-grown brand with strong recall among buyers.

It is difficult to imagine how life after this break-up will be the same.

SOURCE: Dow Jones & Company, Inc.

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Cooper Tire & Rubber Company Increases Ownership at CCT Joint Venture

FINDLAY, OH – March 19, 2010 – (Motor Sports Newswire) -  Cooper Tire & Rubber Company (NYSE: CTB) today announced that it received final approval from the government of the People’s Republic of China to increase its ownership to 65 percent from the existing 51 percent at Cooper Chengshan Tire Company (CCT).

Allen Tsaur, general manager of Cooper’s Asian Pacific operations, commented, “CCT is a critical part of Cooper’s strategy and has performed exceptionally well. We are excited about the opportunity to increase our ownership in these operations.”

About Cooper Tire & Rubber Company

Cooper Tire & Rubber Company is a global company that specializes in the design, manufacture, marketing and sales of passenger car, light truck, medium truck tires and subsidiaries that specialize in motorcycle and racing tires. With headquarters in Findlay, Ohio, Cooper Tire has manufacturing, sales, distribution, technical and design facilities within its family of companies located in 10 countries around the world.  For more information, visit Cooper Tire’s Web site at www.coopertire.com.

SOURCE Cooper Tire & Rubber Company

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Viper Motorcycle Company Signs Joint Venture With Ilmor Engineering, Inc.

HOPKINS, MN – January 6, 2010 – (Motor Sports Newswire) – Viper Motorcycle Company, a subsidiary of Viper Powersports Inc. (OTCBB: VPWI) and Ilmor Engineering, Inc., announced today that they have executed the manufacturing agreement outlined in the letter of intent dated October 6, 2009. Viper Motorcycle Company and Ilmor will partner on the manufacture of an Ilmor designed and developed Viper Motorcycle 152 cubic inch V-Twin engine. The Ilmor version of the Viper polished billet engine will be manufactured and assembled by Ilmor in Plymouth, MI, and will be co-branded with the famous racing company’s name. Viper Motorcycles and Ilmor will also provide cross-marketing support to promote the relationship.

John R. Silseth II, Viper Powersports CEO, said, “We anticipate a public launch of this exciting product in May 2010.  The Ilmor- Viper JV allows Viper to increase production and take its rightful place as a premiere American OEM of high performance cruiser motorcycles. The resulting product from this JV has no equal in the marketplace.”

Paul Ray, Ilmor Engineering, Inc.’s President, said, “This is a very promising start to the New Year. Our relationship with Viper Motorcycle Company grew tremendously in 2009 and we are very enthusiastic about getting the last details of the new engine design completed. Manufacturing of parts for the Viper-Ilmor V-Twin engine has already begun and we could be running on our test bench as soon as the end of Feb 2010″

Viper Powersports designs, manufactures and markets a line of premium American V-Twin Super Cruiser motorcycles, V-Twin aftermarket engines and other related aftermarket products through an independent dealer network. Viper Powersports and Viper Motorcycle Company’s websites are www.viperpowersports.com and www.vipermotorcycle.com.

Ilmor Engineering is one of the most successful race-engine design and manufacturing firms in the world, best known for its expertise and success in the highest levels of automobile racing. The company has over 200 Indy Car wins to its credit including winning the prestigious Indy 500 no less than 15 times. Created as a race engineering company in the UK more 25 years ago, Ilmor has more than 150 personnel worldwide with facilities in Michigan, USA and Northampton, England. Ilmor Engineering’s website is www.ilmor.com.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements.

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