Gun manufacturer buys injection molder

By Frank Antosiewicz
Correspondent

Published: March 25, 2014 4:43 pm ET
Updated: March 25, 2014 4:48 pm ET

Related to this story

Topics Consumer Products, Mergers & Acquisitions, Injection Molding, United States, Injection molds

Firearms maker Smith & Wesson Holding Corp. is taking steps to better control its supply chain with the purchase of Tri Town Precision Plastics Inc., an injection molder in Deep River, Conn.

Springfield, Mass.-based Smith & Wesson said it has reached an agreement for its new subsidiary, Deep River Plastics LLC, to buy the net assets of Tri Town for about $23 million. The deal is scheduled to close in May.

James Debney, president and CEO of Smith & Wesson, said the acquisition will enhance his company’s new product development process.

“Polymer injection molding represents a significant element of our production process. Acquiring this capability allows us to vertically integrate a key component of our manufacturing operations with increased flexibility and is expected to thereby lower our production costs and reduce risk within our supply chain,” he said in a news release.

Tri Town was established by Scott Goodspeed in 1982. It operates 45 injection molding machines at its 95,000-square-foot facility. The company, which also offers tooling capabilities, has about 250 employees.

Goodspeed will not staying with the company, but other Tri Town management will remain, according to Liz Sharp, Smith & Wesson vice president. She said Tri Town has been a long-time Smith & Wesson supplier, and that the objective is to continue that arrangement.

Tri Town provides polymer frames and components for many of Smith & Wesson firearms, including its popular military and police models. About two-thirds of its sales come from Smith & Wesson. It also does work for the medical, industrial, aerospace, communications, automotive and defense industries.

Smith & Wesson, a publicly traded company, expects the acquisition will be accretive to its earnings in fiscal 2015, and that it expects a payback on its investment in four to five years.

Smith & Wesson designs and manufactures firearms and related products, as well as providing training, for global military, law enforcement and consumer markets. It has about 1,500 employees, with facilities in Springfield and Houlton, Maine.


Comments

Gun manufacturer buys injection molder

By Frank Antosiewicz
Correspondent

Published: March 25, 2014 4:43 pm ET
Updated: March 25, 2014 4:48 pm ET

Post Your Comments


Back to story


More stories

Image

ADS launches public trading on NYSE

July 25, 2014 10:41 am ET

Advanced Drainage Systems, the world's largest producer of thermoplastic corrugated pipe, made its debut on the New York Stock Exchange today with 14....    More

Image

Sealed Air's move to Charlotte will put it all under 'One Roof'

July 25, 2014 2:03 pm ET

Sealed Air Corp. shook the ground last week by announcing plans to relocate its headquarters from Elmwood Park, N.J., to Charlotte, N.C., in a move...    More

Image

Austrian mold maker seeking North American manufacturing partner

July 25, 2014 1:49 pm ET

An Austrian mold maker is looking for a manufacturing location in North America.    More

Image

Crain named to Automotive Hall of Fame

July 25, 2014 1:29 pm ET

Keith Crain, chairman of Crain Communications Inc. — parent of Plastics News — was inducted into the Automotive Hall of Fame July 24...    More

Investigation continuing into injury at Windsor mold maker

July 25, 2014 12:57 pm ET

Canadian authorities are investigating an incident in which a worker's foot got caught in a machine at Crest Mold Technology Inc. in Oldcastle, Ontari...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events