Posted May 2, 2018 3:00 pm by Comments

By Tom Knighton

Vista Outdoor is the owner of a number of brands, including Savage Arms and Federal Premium. The company has been having some difficulties lately. We’ve documented it, unfortunately.

However, it got a nice boost with the announcement of an FBI contract worth up to $19 million to Federal Premium.

Now, it seems the company is going to get out of the firearm manufacturing business.

Vista Outdoor shares plummeted on Tuesday after it said it would stop making firearms, and focus on other product lines including bullets and water bottles.

Vista will explore a sale of Savage and Stevens firearms as part of a review that began in November, the company said in a statement. “Vista Outdoor is excited about the potential of each of our core businesses, particularly ammunition, which is our largest core business,” said Vista CEO Chris Metz.

Since a mass shooting at a Florida high school killed 17 people in February, retailers including Dick’s Sporting Goods have stopped selling assault-style rifles, while Citigroup in March said it would no longer do business with those who don’t follow its new policies on selling firearms.

Metz alluded to …Read the Rest

Source:: Bearing Arms

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