Polaris to build snowmobile plant in SE Europe

BUCHAREST, Sept 14 (Reuters) - Snowmobile and motorcycle maker Polaris Industries Inc. PII.N will invest 50 million euros ($69.41 million) in a snowmobile plant in Romania or Bulgaria, company officials said on Friday.

The company will hire up to 800 people, and 80 percent of its output, estimated at 60,000 units in the first year, will be exported to other European Union countries.

“We will invest 50 million euros in Romania or Bulgaria, but we will decide the location in November,” Bogdan Gheorghiu, regional director for Romania, Bulgaria and Moldova, told Reuters.

Gheorghiu said Polaris will run the investment in the second half of next year and the company plans annual turnover of 250 million euros.