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ASV OVERVIEW
EXECUTIVE SUMMARY
OPERATING RESULTS
 Sales and Operations Analysis
Research and Development
Capital Expenditures
First Half 2006
Net Sales
Gross Profit
The Caterpillar Connection
Employment
Marketing and Distribution
Manufacturing
Corporate Leadership
CORPORATE STRATEGY
PRODUCT ANALYSIS
North American Machinery Sales
North American Machinery Production
Compact Track Loaders
Rubber Track Undercarriages
Scout Utility Vehicle
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ASV, Inc. (ASV) was founded in 1983 by Edgar Hetteen and Gary Lemke in Marcell,
Minnesota. That year the company engineered and manufactured the Track™ Truck, a
year-round all-terrain vehicle used by utility companies and ski resorts. In 1987, using
similar engineering, the company pioneered compact track loader technology and built
its first “compact construction machine with a track system”. This system evolved into
ASV’s Posi-Track line of rubber-tracked, all-purpose crawlers. In 1997 ASV introduced
its “Maximum Traction and Support System” undercarriage catching the attention of
Caterpillar.
In 1998 ASV signed its first agreement with Caterpillar where Caterpillar purchased
approximately 9 percent of ASV and began to offer ASV Posi-Track machines through
its North American dealer network. In October 2000, Caterpillar increased its ownership
in ASV to 15 percent and created a strategic alliance between the two companies: ASV
was to assist in the development of five new Caterpillar models of compact, rubbertracked
equipment, Multi-Terrain Loaders (MTLs). In 2001, ASV started to ship
Caterpillar undercarriages for those machines, and it continues to manufacture MTL
undercarriages for Caterpillar today. In October 2004, the company acquired all the
outstanding Common Stock of Loegering Mfg. Inc. of Casselton, North Dakota, and
Loegering became a wholly-owned subsidiary of ASV, Inc. Caterpillar currently owns
23 percent of ASV.
Price: $750.00 USD
Headquarters: Grand Rapids, MN
Telephone: 218.327.3434
Internet: www.asvi.com
Fiscal Year Ends: December 31
Ownership: Publicly Held (NYSE: ASVI)
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