Interesting gun manufacturers information... LOOK!


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number6
August 22, 2003, 12:35 AM
I thought the members might enjoy reading this info. I did.

Mergers And Acquisitions

There are many companies that manufacture firearms on the global market. The following is corporate information for the 6 most commonly known American manufacturers: Colt, The Springfield Armory, Remington, Browning, Winchester, and Smith and Wesson.

Colt: In 1855, a few decades after Sam Colt began producing and designing firearms, his business was incorporated and became known officially as Colt’s Patent Arms Manufacturing Company. Out of 10,000 shares, Sam Colt owned 9996, with the other four owned by his top four subordinates. After his death in 1862, ownership of the company was passed on to his wife and remained in the Colt family until it was bought out by private investors in 1901. In the 1940’s, Colt diversified its product line and began producing printing presses, ticket punches, and commercial dishwashers in addition to firearms. In 1955, the company was bought out by the Penn-Texas Corporation, a corporate conglomerate owned by Leopold D. Silberstein. In 1959, a group of investors took over the Penn-Texas Corporation and changed its name to Fairbanks Whitney. The parent company reorganized in 1964 and changed its name to Colt industries, and changed its firearm subsidiary’s name from Colt’s Patent Manufacturing Company to Colt Incorporated, Firearms Division[i]. In 1988, Saco Defense, inc., became a subsidiary of the firearms division. In 1989 when the Firearms subsidiary was sold to C. F. Holdings Corporation. One year later, in 1990, it was sold again to a coalition of private investors, the State of Connecticut, and the union employees[ii]. Its name was changed to Colts Manufacturing Co, Inc. It was bought by private investors in 1994, who own it to this day. In recent years, with new contacts, Colt is beginning to expand again. It acquired Ultra Light Arms Inc. in 1999 and is developing new forms of “smart gun technology.”

Springfield Armory: In 1794 the Springfield Armory was opened by President George Washington. It produced weapons for the government until it was shut down in 1968. In 1974, Robert Reese bought the rights to the famous name and began producing military and civilian rifles from his factory in Geneseo, Illinois. It was purchased by Dennis and Tom Reese, the sons of Robert Reese, in the mid 1980’s. The company’s slogan, “the oldest name in American firearms[iii]”, is true, though it is often misinterpreted as today’s Springfield Armory is a privately owned company, not the Government’s factory founded in 1794 in New England.

Remington: In 1816, Eliphalet Remington made his first shotgun for use at a shooting competition, where he and his product first earned recognition. Shortly after, he began producing firearms for sale. His business was officially incorporated as the stock company E. Remington And Sons in 1865. In 1873, the company began producing typewriters as well as firearms, though it sold the typewriter business, which would later become Sperry Rand, in 1886. In 1888, the company was bought by sporting goods giant Shuyler, Hartley, and Graham Sporting Goods Company. The company was reorganized, renamed as the Remington Arms Company, and began producing sewing machines and cash registers in addition to firearms. Another subsidiary of Shuyler, Hartley, and Graham Sporting Goods Company the famous Union metallic cartridge Company. In 1912, they were combined. In 1920, Remington was incorporated in the state of Delaware. It began producing knives and cash machines; though it stopped producing cash machines in 1931 when it sold that subsidiary to the National Cash Register Company. In 1933, company ownership was handed to E. I. DuPont de Nemours & Co., Inc. when it purchased sixty percent of the stock. In 1933, Remington acquired the Chamberlain Trap & Target Company. In 1934, Remington purchased the Peters Cartridge Company. It also purchased the rights to produce the guns of the Charles Parker Company. In 1936, Remington and Imperial Chemical Industries, Ltd., entered in a joint operation to set up the Companhia Brasileira de Cartuchos SA. Remington gave the company the right to use its trademark and was given 49.99 percent of the stock. In 1956, Remington purchased 2,970 acres of land in Maryland and named it Remington Farms. In an attempt to expand into the power tools market, Remington acquired the Mall Tools Company, which was dissolved as a subsidiary in 1958 when it integrated into Remington[iv]. It later sold the power tools business to Desa Industries Inc. in 1969. In 1961, Remington formed subsidiaries in Germany and Mexico. In 1963, Remington acquired the Brewer Pharmical Engineering Corp. by purchasing 55 percent of its stock. It sold Brewer to the Park-Davis Company in 1970 in exchange for stock[v]. In 1975, DuPont gained control of 70 percent of Remington stock (up from the original 60 perchased in 1934) by purchasing 589,000 shares from Fidelity Union Trust Co. In 1980, DuPont acquired the remaining shares and was the sole owner of Remington. In 1990, E. I. DuPont de Nemours & Co. transferred control of Remington to DuPont Chemical And Energy Operations, Inc., a holding company from Delaware. In 1993, DuPont sold Remington to RACI Acquisitions. RACI is a company organized by an investment firm named Clayton, Dubilier, and Rice[vi].

Browning & Winchester: Neither Browning nor Winchester is self-owned. Along with European companies FN Herstal and FNMI, Browning International, Browning USA, and USRAC Winchester form the Herstal Group, a French company. It is important to distinguish between the US Repeating Arms Company (Winchester) and the Winchester Ammunition Company. The Winchester story began in 1866 when Oliver Winchester gained control of New Haven Arms Co. and changed its name to the Winchester Repeating Arms Company. In 1868, Winchester acquired the Spencer Company. In 1931, the Olin Corporation purchased Winchester and combined it with the Western Cartridge Company. The two were separated during a reorganization of the company in 1981 by the Olin Corporation, in which the US Repeating Arms Company was formed as a separate company. Olin still controls Winchester Ammunition, but USRAC is now a subsidiary of the Herstal Group and produces firearms under license from Olin. In addition to owning Winchester Ammunition, Olin’s other endeavors include Olin Brass and Chlor Akali. Olin Brass produces various metals including copper alloys for use in high tech, Japanese produced products; and supplies “Posit-bond clad metal” to the US Mint for use in quarters, dimes, and half dollars. Its business history dates back to the late 1800’s in the days of Carnegie steel. Chlor Akali produces caustic soda and chlorine in addition to Reductone sodium hydrosulfate and Hydroline hydrochloric acid. It is the leading supplier of chlorine and caustic soda in the Eastern United States. Reductone is used by the fabric industry to “put the blue in blue Jeans.[vii]” Hydroline is used in several paper products.

Smith & Wesson: In 1852, the Smith & Wesson story began when Horace Smith and D. B. Wesson came together to produce firearms, and founded the Smith & Wesson Company. Although many of its patents were sold to Winchester in the 1800’s, the company managed to survive without having to sell out. Unlike the other US firearms companies, ownership of the company remained in the founder’s family for over 100 years. The Wesson family finally sold it in 1965 to the Bangor Punta Corporation. The Bangor Punta Corporation was later purchased by the Lear Siegler Corporation in 1984. In 1986, the Lear Siegler Corporation was purchased by Forstmann Little & Company. However, Forstmann Little acquired Lear Siegler for their automotive and aerospace industries, and had no interest in Smith & Wesson. It was sold to an English company, Tomkins p.l.c., which owns it to this day. Tomkins owns companies in several fields including air systems components, automotive and industrial engineering, and construction products. Companies owned include: Gates Europe, Gates Mexico, Gates Rubber Company, Gates-Formed Fibre, Northern Rubber, Schrader Bridgeport, Stant Corporation, Gates-Floormaster, Gipperrods, Trico Products, Tridon, Action Air, Air Diffusion, Air Systems components, Hart & Cooley, Krueger, Lau, Penn Ventilation, Reliable Louvers, Rink Sound Control, Ruskin, Swartwout, Aquatics Bathware, Cobra, Lasco Bathware, Lasco Composites, Lasco Fittings, Pegler, Philips Products, Philips (Malta), Philips (Ventline), Dearborn Midwest, Mayfran, Unified, Dexter Axle, and of course, Smith & Wesson. Through these companies Tomkins is a leading supplier in the US and in World of: Power Transmission systems, fluid power, fluid systems, wiper systems, ventilation systems, baths, pipe fittings, panels, taps (faucets), doors, windows, material handling systems, and countless other objects used in your daily life. There are currently boycotts of Tomkins in England on the basis that “buns and guns” shouldn’t be produced by the same company

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C.R.Sam
August 22, 2003, 01:15 AM
Tomkins p.l.c., which owns it to this day.

Couple years out of date. Good read tho.

Sam

Justin
August 22, 2003, 01:27 AM
Interesting stuff, especially the bit about Springfield Armory. I always was curious as to how they went from being a gov't operation to a private company.

kenehsr
August 22, 2003, 05:58 PM
cool:)

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