<<Who owns Browning>>
"Thank you for visiting the Browning web page.
The entire staff of Browning, the Fabrique Nationale Group("FN" -rh) and our manufacturing partners in Europe, Japan and throughout the world wish to join in solidarity and unity with America in " prayer and remembrance" of the victims and the families affected by the recent attacks of terrorism.
We extend our prayers and sincere condolences to the families of all those injured and needlessly taken by these cowardly acts.
BROWNING NORTH AMERICA
browning.com
Saf-T-Hammer Corp. Announces Buyout of Smith & Wesson; Firearm Safety & Security Company Buys Legendary Firearm Manufacturer
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 14, 2001--Saf-T-Hammer Corp.
(OTCBB:SAFH), the Scottsdale-based firearm safety and security company today announced that it has purchased Smith & Wesson Corp. from Tomkins Corp., a subsidiary of U.K.-based Tomkins PLC (NYSE:TKS).
"Smith & Wesson, a brand name for 147 years, would be at the top of any list of immediately identifiable corporate logos recognized worldwide," said Bob Scott, president of Saf-T-Hammer and former vice president of Smith & Wesson.
"We are proud to return this storied company to American ownership. We intend to maximize the value of the name and to fully utilize the manufacturing, marketing and worldwide distribution assets of the company to create appreciation and value for our shareholders. We also plan to increase the company's revenues through expanded branding activities and strategic acquisitions that will compliment the company's current product lines. As part of the synergy between our two companies, we plan to incorporate Saf-T-Hammer products into the firearms manufactured by Smith & Wesson."
The stock purchase agreement between Saf-T-Hammer and Tomkins encompasses all assets including patents, trademarks, intellectual property, distribution rights, machine drawings, inventory, equipment and physical assets of Smith & Wesson, including its corporate headquarters in Springfield, Mass.
Under the agreement, Saf-T-Hammer will pay $15 million in cash, with $5 million paid upon closing and the balance due in May 2002. As of the close, Smith & Wesson's total assets were approximately $97 million, which includes two manufacturing facilities. The main facility is a 660,000 square foot plant on 160 acres located in Springfield. The other facility is a 36,000 square foot plant in Houlton, Maine. Total liabilities are approximately $53 million, which includes a 10-year note payable to Tomkins for $30 million due in May 2011.
"Tomkins' motivation to sell Smith & Wesson as part of its refocused worldwide operation, presented an extraordinary opportunity for Saf-T-Hammer. It took a tremendous amount of creativity and diligence from both companies to craft the terms of this transaction. We're excited about the prospects afforded by this unique union of a firearm safety and security device developer and a firearm manufacturer that is synonymous with Americana," said Mitchell Saltz, chairman of Saf-T-Hammer.
About Saf-T-Hammer
Saf-T-Hammer is a firearm safety company focused on preventing unauthorized gun use and unintentional firearm accidents. Saf-T-Hammer customers include sporting goods distributors, law enforcement distributors, law enforcement retailers, law enforcement agencies and gunsmiths.
Saf-T-Hammer Products
The Saf-T-Trigger(TM) is a mechanical trigger block, which is permanently installed in the trigger guard of firearms. The block is activated quickly and simply with a special key, which raises a post into position behind the trigger, physically blocking the rearward movement of the trigger. With the Saf-T-Trigger activated, the firearm cannot be fired.
The Maximum Security Cable(TM) is "shockproof" and unlike many similar products currently on the market, will not open when subjected to jarring and its heavier steel cable is virtually cut proof. As recently discovered, many cable lock devices for firearms were less than adequate. Through independent testing, the product has proven to be up to 10 times stronger than a variety of conventional cable locks currently available.
The Versa Vault(TM) is a handgun vault designed to provide more than 40 percent more capacity than any comparable product on the market. It offers the highest possible degree of electronic and mechanical security available and features an owner-programmable and user-friendly lighted keypad with four keys and has more than 10,000 available combinations.
The vault is designed for both vertical and horizontal installation, includes a steel mounting plate, and has a tamper alert, low battery alert and easy access for electronic backup and internal lighting. Its small 10-inch x 14-inch x 3.5-inch external dimensions provide maximum space utilization and allows the Versa Vault to be installed nearly anywhere. It has a unique internal holster that presents the firearm to the owner for maximum speed and accessibility. This holster is also removable, providing additional storage capacity depending upon the owners needs.
For more information, visit the company's Web site at: saf-t-hammer.com
Safe Harbor Statement
Statements about the company's future expectations, including synergies between the two companies, and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Act of 1934, as that term is defined in the Private Securities Reform Act of 1995. The company intends that such "forward-looking statements" be subject to the safe harbors created thereby.
CONTACT:
Market Pathways, Irvine, Calif.
Shannon T. Squyres (media and investors), 949/955-1860
KEYWORD: ARIZONA CALIFORNIA MASSACHUSETTS
smith-wesson.com
(OTCBB: SAFH) Scottsdale, Arizona
<<Is it true that arms manufactures have created wars to
sell weapons? >>
Maybe, but doubtful, we humans would kill other humans if we could get only sharp rocks. Not S&W in recent times, might want to review their products. This is simple often reported gun hater propaganda. Maybe FN around WW-I but also doubtful. Most of the world's firearms manufacturers make no or very few "war arms" or only when forced to do so by national emergency.
<<Why does a so called civilized nation need arm itself against itself? >>
Some love firearms because guns are also works of art & skill or objects of history/family keepsakes - these alone make up around 35-40%(1/2 not in shooting shape - per NRA & home insurance institute) of the US private weapons store. Many more firearms(around 7-15%) are used only for and are suitable mainly for sport - shooting clay or paper targets. A great deal of sporting arms are kept for hunting or protection from wild beast which are becoming progressivly more dangerous due to lack of hunting pressure(fear of humans) & human intrusion(in some areas) into wild areas, and of rabies. Official estimates show these which protect of from that which will never be civilized or & or assist in feeding us make up another 25-35% of the total. The balance(5-15%?) make up the true offensive & defensive firearms(of which you write) and include those held by thieves & robbers and home owners / private security guards.
This is not now, nor will it ever be Europe. We have far more dangerous wild animals & rabies is a far greater % problem than ever there. Hunting is also far more widespread here than in Europe and we, the top of the food chain, are important to the balance where there are more deer than in 1600,1700,1800 or 1900! The number of rabbit alone taken for food, sport, & by farmers increases US agricultural output by as much as 5% as only three jackrabbit(after 1 year's multiplication) eat as much as one steer or several sheep or goats.
CDC rabies info:
cdc.gov Animals |
