Posted on 03/22/2006 10:55:40 AM PST by neverdem
NEW HAVEN — Smith & Wesson, the nation’s oldest and once its largest handgun maker, was named by city officials Tuesday as one of three manufacturers eyeing a takeover of the soon-to-close Winchester firearms factory.
Mayor John DeStefano Jr. confirmed Tuesday that Smith & Wesson executives will be in town this weekend to tour the U.S. Repeating Arms Co. factory at 344 Winchester Ave., where "The Gun That Won The West" has been manufactured for 150 years.
"There is a serious interest in the plant by a credible manufacturer," DeStefano said Tuesday. "Where it’s going to lead, I am not going to handicap at this point."
City Hall is asking USRAC’s parent company, Belgium-based Herstal Group, to cede control of the plant to the city or another gun maker. In exchange, the city has offered to forgive $17 million in tax abatements, lease obligations and workers’ pay the city says Herstal owes.
Meanwhile, the city is pressuring Utah-based Olin Corp., owner of the Winchester brand name, to grant the Winchester license to a firearms maker willing to take over the New Haven factory.
Smith & Wesson’s chief financial officer, John Kelly, confirmed the visit Tuesday, but both he and DeStefano sought to downplay its significance.
"We’ve been asked to come down and take a look" Kelly said. "Obviously, it’s a great brand, but I wouldn’t read too much into it.
DeStefano also struck a cautious, if hopeful, tone.
"Herstal does want to sell the plant," the mayor said. "Herstal has an interest in retaining the license from Olin, but Olin has said they would deal only with a bonafide manufacturer, which Smith & Wesson clearly is."
DeStefano added, "This is just a step in the process. I don’t want to build expectations that are unreasonable."
DeStefano said the city is...
(Excerpt) Read more at nhregister.com ...
I may regret not getting that Model 70 I have always coveted!
I hope they buy it. It would be a huge upset to see winhcester shut down.. I own a Winchester 1300 in 20 gauge and i love it. I would love to buy a Model 70 in .270 as soon as i get some $ together. Winchesters have been selling fast at the gun shop i go to.
I may regret not getting that Model 70 I have always coveted!
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Just bought one!!! ;-) -- a nice stainless classic in 30-06. It will become a collectors item --- :-)
Gun envy...
For me, the Model 70 has always been a classic.
My choice is sither .223 or .270 . Guess what I enjoy!?
Smith & Chester ?
It's a work of art and shoots a .6 inch group CONSISTENTLY with 180gr bullets...out of the box:)
Why would anyone reopen in New Haven? Buy the tools and move to more friendly environs.
I suspect someone will take over the name, not sure about the plant tho. Manufacturing guns in New England does not make much sense to me.
Smith has been cosidering gettting into long guns again, aside from the M&P 15. This would be a good way to do it.
I got a 1938 Mod 70 carbine late last year. It's value has nearly doubled.
Buy the company and then move it to a red state. Why are gun makers still operating in the Northeast US? ... for crying out loud.
Early Winchesters were almost hand made. Where will anyone find that workmanship in these times ?
I understand that Wyoming is actively trying to recruit gun manufacturers by offering substantial tax incentives.
Be Ever Vigilant!
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