BRP TO RESUME OPERATIONS SHORTLY AFTER FIRE OCCURRED IN THE YARD OF ONE OF ITS JUAREZ, MEXICO FACILITIES (JUAREZ 2)
VALCOURT, Quebec, July 19, 2021 – BRP (TSX:DOO; NASDAQ:DOOO) announces that on July 17, 2021, there was a fire in the storage yard of the Juarez 2, Mexico facility. All employees on site were safely evacuated and there are no reported injuries. No damage was caused to the manufacturing facility, where side-by-side vehicles are produced. The Company is ready to resume production and is expecting to receive clearance from authorities by mid-week.
“I am pleased that all our employees are safe and followed our health and safety protocols. We appreciate the quick assistance of the firefighters, local businesses and authorities. We do not anticipate any material impact to our business”, stated José Boisjoli, President & Chief Executive Officer, BRP.
The Company is working with authorities and internal and external experts to determine the cause of this incident. Some SSV units that were in our storage yard were lost, representing approximately 6 days of production.
While we expect this incident will delay certain SSV deliveries, dealers and customers can be assured we are putting measures in place to mitigate its impact.
We are a global leader in the world of powersports vehicles, propulsion systems and boats, built on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft, Manitou, Quintrex, boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$6.0 billion from over 130 countries, our global workforce is made up of more than 14,500 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Evinrude, Manitou, Alumacraft, Quintrex, Stacer, Savage and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements in this press release, including, but not limited to, statements about the Company’s prospects, expectations, anticipations, estimates and intentions, results, performance, objectives, targets, goals or achievements, priorities and strategies, financial resources, capabilities, beliefs, research and product development activities, expected financial requirements and the availability of capital resources and liquidities or any other future events or developments and other statements that are not historical facts constitute forward-looking statements within the meaning of Canadian and United States securities laws. The words “may”, “will”, “would”, “should”, “could”, “expects”, “forecasts”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “outlook”, “predicts”, “projects”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements, by their nature, involve inherent risks and uncertainties and are based on assumptions, both general and specific. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Actual results or future events or developments may differ materially from those expressed or implied by the forward-looking statements due to a number of factors, including the impact of adverse economic conditions such as those resulting from the ongoing COVID-19 health crisis as well as those identified in BRP’s annual management’s discussion and analysis and audited consolidated financial statements for its fiscal year 2021 and the other recent and future filings with applicable Canadian and U.S. securities regulatory authorities, available on SEDAR at sedar.com or EDGAR at sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. The forward-looking statements contained in this press release are made as of the date of the press release and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities regulations. In the event that the Company does update any forward-looking statements contained in this press release, no inference should be made that the Company will make additional updates with respect to that statement, related matters or any other forward-looking statement.
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