Estate was a relatively small independent shotshell manufacturer in Texas. The company was bought by Blount, Inc. several years ago, and was shortly sold to ATK (Alliant) along with Blount's other ammunition producers, including Federal. After the sale all of Estate's manufacturing facilities were transferred from Texas to Anoka, Minnesota, colocated with Federal's production facilities.
Estate made outstanding products at good prices while in business as an independent manufacturer, their contributions to the civilian ammunition market are missed by any number of shooters.
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http://www.blount.com/Alliant.htm
Contact: Richard H. Irving, III
Sr. Vice President-
General Counsel
334-244-4340
Release: Immediately
Blount International Executes Letter of Intent to Sell its Sporting Equipment Group to Alliant Techsystems
MONTGOMERY, AL, October 25, 2001- Blount International, Inc. [NYSE: BLT] ("Blount"), a diversified manufacturer of outdoor products, industrial equipment and sporting goods, announced today that it has executed a letter of intent to sell its Sporting Equipment Group ("SEG") business to Alliant Techsystems ("ATK") for approximately $250 million of ATK common stock. The letter of intent contemplates that ATK will provide Blount with registration rights with respect to the stock.
The sale is subject to negotiating a definitive agreement and to the necessary government approvals, but is presently expected to be completed during the fourth quarter of calendar year 2001. There can be no assurance, however, that the transaction will be completed within this time frame or at all.
Blount's Sporting Equipment Group is a market leader in sporting and law enforcement ammunition and related accessories with renowned brand names such as Federal®, Speer®, Outers®, CCI®, Simmons®, Weaver® and others, and has served its markets for more than 75 years.
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