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Smith & Wesson Announces Second Agreement With Remington Arms; Legendary Firearms Companies Enter Multi-Million Dollar AgreementJuly 26, 2001 08:16:00 AM ETSPRINGFIELD, Mass.--(BUSINESS WIRE)--July 26, 2001--Smith and Wesson Corp., a wholly owned subsidiary of Saf-T-Hammer Corp. SAFH, today announced a multi-million dollar, three-year agreement with Remington Arms Corp. Under the terms of the agreement, Smith & Wesson's Specialty Services Division will produce machined receivers for certain models of Remington "Centerfire" rifles. The Specialty Services Division is a rapidly growing portion of Smith & Wesson's organization. This division has increased its business by more than 50 percent for each of the past three years and provides specialized metal working products and services to a broad base of customers in a variety of industries including: several customers in the vehicular industry, hand tool, hardware, golf and firearms industries. "Smith & Wesson was selected as our supplier based on their technical capabilities and their proven machining expertise," said Larry Kipp, Remington Arms' plant manager for their Ilion, N.Y., facility. "Based upon the expected success of this program, additional opportunities could develop between Remington and Smith & Wesson." This agreement represents the second cooperative arrangement between the two firearms industry leaders. Previously, the two companies reached a licensing, cross licensing and use agreement, relative to electronic firearms, ammunition for electronic firearms and user authorization for electronic firearms technologies developed by the two companies. The previous agreement includes existing and future technology, whether developed individually or jointly. Each company retains ownership of the technology it has or will develop and jointly developed technology will be jointly owned. "We are very pleased to be able to supply Remington with quality components and to further the very positive working relationship between our two companies," said Robert L. Scott, president and CEO of Smith & Wesson. About Smith & Wesson Smith & Wesson was acquired in May of this year by Saf-T-Hammer and is one of the world's leading producers of quality handguns and law enforcement products. Law enforcement personnel, military personnel, target shooters, hunters, collectors and firearms enthusiasts throughout the world have used the company's products with confidence for nearly 150 years. The acquisition brought the ownership of this American industrial icon back to the United States and it is now operated by management with extensive experience in the firearms industry. About Saf-T-Hammer Saf-T-Hammer, the parent company of Smith & Wesson, was originally formed to develop and market firearm safety and security products designed to prevent unauthorized access to firearms. Saf-T-Hammer continues to market its own branded products to sporting goods distributors, law enforcement distributors, law enforcement retailers, law enforcement agencies and gunsmiths both in the United States and internationally. Visit the company's Web sites at: http://www.saf-t-hammer.com/ or http://www.smith-wesson.com/. Safe Harbor StatementStatements 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.Note to Editors: Saf-T-Hammer and Saf-T-Trigger are trademarks of Saf-T-Hammer Corp.Contact Information: Market Pathways (media & investor relations)Shannon T. Squyres, 949/955-1860c 2001 BusinessWire c2001 Microsoft Corporation. All rights reserved. Terms of Use Advertise TRUSTe Approved Privacy Statement
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GUN CONTROL: If you're not outraged, you're not paying attention!kimberkid@gunbroker.zzn.com
? otherwise, you'll find an excuse.
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