December 24, 2002 |
Some dream of beating weapons into plowshares. But handgun maker Smith & Wesson Corp. has something else in mind: golf clubs. The Springfield, Mass.-based firearm maker said it would take aim next year at the $1.3-billion golf club market by licensing its name and logo on irons, woods, drivers and putters. The move is one of 30 such agreements the firm has struck over the last several years to leverage "brand equity" and broaden the Smith & Wesson name beyond firearms.
May 15, 2001 |
Smith & Wesson, a slumping icon of the American firearms industry, has been sold by its British owner for $15 million to a start-up developer of gun safety devices, Saf-T-Hammer Corp. of Scottsdale, Ariz. The nearly 150-year-old company is being jettisoned by Tomkins, which purchased the legendary gun maker in 1987 for more than $100 million. The low sale price reflects Smith & Wesson's continuing exposure to litigation over gun violence in U.S.
May 3, 2001 |
Smith & Wesson Co., the world's top handgun maker, will get a $1.8-million grant from the Justice Department to develop a "smart gun" that would permit only the owner to fire the weapon, Massachusetts lawmakers said. Smith & Wesson said it will use the money to continue research into fingerprint-matching technology and an electronic system to prevent people besides the gun owner from firing the weapon.
December 12, 2000 |
Smith & Wesson, the nation's largest gun maker, agreed Monday to set aside 2% of nationwide firearms sales to develop safer guns and to make it impossible for the average 5-year-old to pull the trigger of one of its weapons. The agreement with the city of Boston mirrors one the company reached in March with the Clinton administration and some other states and cities. It promises external gun locks on new production and internal locks within two years.
October 20, 2000 |
Smith & Wesson said it's cutting about 15% of its work force, blaming slumping sales and a boycott by buyers angry about its gun-safety deal with the government. The company, which is owned by Tomkins of Britain, said it would lay off about 125 employees, including some managers, at its plant in Springfield, Mass., within a week.
June 27, 2000 |
The House narrowly beat back an effort Monday to scuttle the government's pact with the nation's largest gun manufacturer for the use of safety devices, a week after lawmakers sent a mixed message on the issue. By a 201-196 roll call, lawmakers rejected a provision that would have barred the Justice Department from enforcing the agreement reached last March between Smith & Wesson and federal, state and local officials.