Industry News: V9N5
Smith & Wesson Purchases Gemtech
Smith & Wesson announced that it will acquire Gemini Technologies, Inc. The Idaho company known as Gemtech manufactures “high quality suppressors and accessories for the consumer, law enforcement, and military markets.” James Debney, president and CEO of American Outdoor Brands, said Gemtech will be an “excellent fit” with the company’s long-term strategy.
“Gemtech is widely recognized for producing some of the finest rifle and pistol suppressors in the market. Gemtech’s strong product development capabilities, combined with our experience in brand management and our manufacturing expertise, will help us to efficiently develop both firearms and suppressors, minimizing our time to market for both product categories,” Debney said in a statement. “We view this acquisition as opportunistic, allowing us to enter the suppressor category, which resonates strongly with our core firearm consumer, at a time when the market is particularly soft.”
Indian 7.62×51 Ordnance Factory Board Rifle Fails Trials
The state-owned India Ordnance Factory’s most recent rifle submission has failed the Indian Army’s initial rifle qualification trials. According to the Hindustan Times, it “miserably failed.” Official sources said there were an “excessive number of faults” in the guns, and “complete redesigning of the magazine” was needed to consider the guns to be used by the Army. In addition, “excessive flash and sound signature” was observed during the trials. Allegedly, the rifles had an excessive number of faults and stoppages.
The Indian Army recently released a tender for a large quantity of battle rifles for immediate delivery. The Indian Army badly needs modernized rifles, and delays to an indigenous design have been very disappointing.
U.S. Senate Moves for New Sanctions Against Iran
On June 8, 2017, the U.S. Senate allowed the Countering Iran’s Destabilizing Activities Act of 2017 (S. 722) to continue through the legislative process. The pending legislation is similar to prior Iran sanctions legislation, in that is does not call for specific sanctions. Instead, the proposed legislation would allow the President to impose a variety of sanctions, including asset blocking against companies and individuals, whom the President determines has assisted Iran in certain activities. Iran has argued that the proposed legislation violates the 2015 Iran Nuclear deal, where the EU and U.S. agreed to limited exports to Iran.
Whether the proposed legislation violates the deal or not remains to be seen, as the legislation has not been passed or signed into law.
DoubleStar Announces Collaboration with Knife Designer Darrin Sirois
DoubleStar will work with Darrin Sirois to render his designs into affordable production knives for its new Edged Weapon Division. Sirois served 25 years active duty in the military where he got his start in knife making as an outlet for combat-related stresses. Sirois is the current owner, operator and founder of TCT Knives (Tactical Combat Tools). “Joining DoubleStar on this collaboration is an absolute honor. My work ethic and ethos embolden a no-fail mentality in anything I do. I strive for excellence and understand the complexities of the knife industry and look forward to being an asset to the DoubleStar Edged Weapons Division,” commented Sirois.