21st Century Technologies Future Brightens for IWI/MMC
September 08, 2003 07:32:00 AM ET
LAS VEGAS--(BUSINESS WIRE)--Sept. 8, 2003--Kevin Romney, General Manager of 21st Century Technologies Inc.'s TFCT Innovative Weaponry, Inc. ("IWI") and Miniature Machine Corporation ("MMC"), announced the start of a campaign which will invigorate 21st Century's Tritium-powered low-light and no-light gun sight businesses, as well as sales of precision adjustable open sights, making good use of the recent conversion of the parent corporation to a Business Development Corporation. Mr. Romney said, "We have had a lot of excitement recently with good news concerning the ProMag and SeaPatch magnetic leak sealing systems from our subsidiary Trident Technologies, Inc. We have been paying attention to our other subsidiaries, Innovative Weaponry, Inc. and Miniature Machine Corporation, as well."
"The availability of business development funds will enable us to accelerate product development and improvement on behalf of IWI/MMC, increasing our penetration of the sight market, putting us in a better position to take advantage of increased handgun sales and heightened general interest in personal protection and security matters." Mr. Romney noted that states which pass "carry" laws, permitting citizens to carry concealed weapons on their person, generally enjoy reductions in crimes against persons. "I expect that these `carry' laws will become the law in more and more jurisdictions," said Mr. Romney. "Populous states, such as Florida, have enjoyed the benefits of this type of legislation. IWI and its brother, MMC, will be ready for the increased business that is following. Even without such laws, general interest in gun ownership is on the increase."
Mr. Romney described several product improvements being introduced to the market which will enhance IWI-MMC sales, such as:
-- A new line of premium fixed sights, made to finer tolerances and finishes;
-- An improved bluing process which will enhance appearance and durability
-- A redesign of "white dot" technology for brighter sight pictures
-- Improvements and cost reductions in the manufacturing process including outsourcing
Additional modifications awaiting submission of and approval from the Nuclear Regulatory Commission, and will be incorporated as soon as possible thereafter, include:
-- A new epoxy glue process which will facilitate Tritium insertion, improving manufacturing efficiency
-- Larger, brighter surrounding outline of the Tritium inserts which will improve sight picture
"These improvements will give us a big advantage over the competition. They will create excitement in the market place," said Mr. Romney. "When our expanded marketing force goes after increased sales, it will be well-armed with a superior product line, covering price and model ranges from top to bottom. IWI and MMC will be THE source for after-market gun sights. That, in turn, will increase our opportunities for more OEM business. This part of 21st Century's business will create profit excitement."
21st Century Technologies, Inc. operates two wholly-owned subsidiaries, Innovative Weaponry, Inc. and Miniature Machine Corporation that manufacture gun sights. IWI is the maker of PT Night Sights, which are fixed gun sights employing Tritium to provide a glowing light source for improved sight pictures in difficult light situations. MMC makes high-precision adjustable gun sights, popular with serious hobbyists and shooting enthusiasts. The market in which they compete is estimated to account for $30 million to $50 million sales volume per year and is increasing. Product improvement and increased security interest will increase 21st's penetration of market share substantially, according to company sources.
Safe Harbor Statement
All statements other than statements of historical fact included in this report are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.
Contact Information:
21st Century Technologies Inc., Las Vegas
Larry B. Bach, 702-248-1588
Lbach@texn.com
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