Industry News: Volume 6, Number 3
ATF Import Permits Officially Changed to 2-Year Period of Validity
On February 7, 2014, ATF announced via the Federal Register that it would extend the standard term of import permits for firearms, ammunition, and defense articles from 1 year to 2 years. The additional time will allow importers sufficient time to complete the importation of the authorized commodity. In addition, it will eliminate the need for the importer to submit a new import application, ATF Form 6, where the importation was not completed within the 1-year period. The full entry within the Federal Register may be found here: www.gpo.gov/fdsys/pkg/FR-2014-02-07/pdf/2014-02580.pdf
Leupold & Stevens, Inc. Names Bruce Pettet as New President and CEO
Leupold & Stevens announced that Bruce Pettet has been named chief executive officer and president of the U.S. sports optics manufacturer. “We’re excited by Bruce’s passion for growth, as well as his expertise in building global brands,” said Jim Clark, chairman of the Leupold & Stevens, Inc. board of directors. “As we continue to expand as a company, his vision and experience will be invaluable in helping build on Leupold’s reputation for best-in-class quality and service.”
As the President and CEO of Collective International, LLC, Pettet built a portfolio of successful brands that are sold in more than 100 countries worldwide. In addition to his success reenergizing and building Collective’s Airwalk brand, Pettet also created a company culture that was recognized as one of Denver’s top companies to work for. Prior to joining Airwalk, Pettet was the President and CEO of Brooks Sports, Inc., a premium running company located in Bothell, Wash. He has also served as chairman of the board of Famous Brands International (Mrs. Fields and TCBY yogurt brands).
“Leupold is a fantastic brand with an outstanding reputation in the market,” Pettet said. “I’m excited to help build on their recent success and ensure that Leupold & Stevens, Inc. remains the premier U.S. manufacturer of sporting optics.”
Nammo AND Eurenco Announce Merger
The Nammo Group and Eurenco Group announced the signature of the Share Purchase Agreement (SPA) of the Finnish company Eurenco Vihtavuori OY. The company Eurenco Vihtavuori OY is a well-known manufacturer of propellants for civilian and military use. The agreement is subject to approval by French authorities. Filing is now done and approval is expected to be granted within a short time.
With its headquarter in Raufoss, Norway, the Nammo Group is a technology driven aerospace and defense group specializing in technologically advanced products. Nammo’s core business is development, production and sales of military and sports ammunition, shoulder fired weapon systems, rocket motors for military and space applications, and global services for environmentally friendly demilitarization. Nammo has 21 manufacturing operations and 2,200 employees in 9 countries.
Drawing on centuries of know-how and expertise in chemical synthesis of energetic molecules, Eurenco develops, manufactures and provides a largely diversified and tailor-made range of products for both the Defense and commercial markets: high explosives and compositions (for main charges, boosters, primers, pyrotechnics.); innovative demolition explosives; advanced combustible items; single, spherical and multi-base propellants.
U.S. Fourth Circuit Court of Appeals Upholds ITAR Conviction Without Specific Intent
In United States v. Brian Bishop, No. 13-4356 (Jan. 28, 2014), the government prosecuted a Foreign Service Officer in the U.S. State Department for attempting to ship small arms ammunition from Alabama to Amman, Jordan. Allegedly, Mr. Bishop had no knowledge that the small arms ammunition required an export license. Nevertheless, the Fourth Circuit court affirmed a lower court’s conviction of Mr. Bishop. For a complete background and analysis of the case, please continue to the legal column within this issue.