Arctic Cat is a North American manufacturer of snowmobiles and all-terrain vehicles. The company was formed in 1960 and is based in Thief River Falls, Minnesota. The company designs, engineers, manufactures and markets all-terrain vehicles, snowmobiles, as well as related parts, garments and accessories. Its common stock is traded on the NASDAQ Global Select Market under the ticker symbol “ACAT”. Arctic Cat was formed by snowmobile pioneer Edgar Hetteen in 1960 due to his departure from his previous self-started business, Polaris Industries. Like Polaris, Arctic Cat grew to become a major manufacturer of snowmobiles, watercraft, and all-terrain vehicles (ATVs). The companys first name was Polar Manufacturing but was soon changed to Arctic Enterprises. The company made their first snowmobile in 1960 and in 1970, started the Boss Cat line. Various boat manufacturers, including Silver Line, Lund and Spirit Marine, were bought to attempt to expand the company. However, Arctic Cat went bankrupt in 1982. Two years later, a new company Arctco was created to continue the production of Arctic Cat snowmobiles. The company was successful in keeping the Arctic Cat alive and in 1996 the company changed its name to Arctic Cat. The company continues to make snowmobiles as well as all-terrain vehicles and side-by-sides. Over the years, the company has attempted many other product lines including snowblowers, generators, mini bikes, and two-wheel drive vehicles. Arctic Cat relocated its headquarters, certain corporate executives, general managers, and sales and marketing personnel to Plymouth MN from Thief River Falls in 2007. In 2016, the headquarters was relocated again to a more prominent location in downtown Minneapolis. Also in 2016, most of the ATV/UTV engineering was moved to St. Cloud, MN, in the same facility that produces the Arctic Cat engines. Arctic Cat continues the majority of their manufacturing, along with snowmobile engineering, in Thief River Falls, Minnesota. Arctic Cat is known for their M series snowmobile models which were 3rd in Market share behind Ski-doo and Polaris in 2003. This "Skinny Mini" prototype sled had features different from other sleds at that time, by utilizing parts that provided more than one role and a track that had less width then other sleds, reducing rotating mass. Cat discovered that this design was splendid for mountain riding, however the trail model developed an over heating issue as the heat exchanges were found to be insufficient when ridden on ice and in marginal snow conditions. Though the majority of sleds experienced no issues, this resulted in a class action lawsuit and resulted in an out of court settlement where cat bought back from owners 3200 short track Firecat F-7s. These sleds featured a lay down type engine which placed the carburetors in front of the engine. which was centered low in the sled to centralize mass and was believed to allow cooler air inlet temperatures. Big changes were made to the lineup for the 2007 model year as a new chassis was introduced which was called a twin-spar chassis replacing all previous models while adding a new 4 stroke engine, the Z1 Jaguar, which featured an 1056cc 4-stroke parallel twin. In 2009 the Z1 was turbocharged to produce 177 horsepower (132 kW), which was 1 horsepower (0.75 kW) more than any other production snowmobile. The Crossfire and M-series remain on the same M-series chassis which is a spin off from the original Firecat Chassis.