Contract Award Allows For Multiple Agency Purchase
SPRINGFIELD, Mass., Sept 13, 2010 /PRNewswire via COMTEX/ -- Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 158-year old company in the global business of safety, security, protection and sport, announced today that the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) awarded the company an unrestricted open market competitive Firm-Fixed-Price Indefinite-Delivery/Indefinite -Quantity (ID/IQ) multiple-award contract for the Military & Police (M&P40) pistol.
The award marks the completion of a full and open competition among several firearm manufacturers to provide a commercial off-the-shelf pistol that met or surpassed the ATF technical requirements. Under this contract, the M&P40 pistol is not only qualified for purchase by the ATF but has also been made available to multiple U.S. Federal Agencies who may now use this contract vehicle for their purchases. The potential value of the contract award is $40 million over 10 years.
Michael F. Golden, President and CEO, said, "This award by the ATF marks a milestone for our company and for the Military & Police Pistol Series. Beyond the value of future orders we may receive under the contract, it is an important validation of our M&P products. During the ATF's stringent testing process, the M&P pistol performed exceptionally well, demonstrating excellence in the areas of reliability and performance, two key benefits that have made it a frequent choice by federal, state and local law enforcement professionals."
The ATF awarded the contract to Smith & Wesson after a rigorous, multi-step evaluation was conducted on the M&P40 full-size and compact pistols. The evaluation consisted of a multiple- agent, live-fire assessment of 5,000 rounds. Additionally, the pistols were fired 15,000 rounds during the endurance phase of the test, for a total of 20,000 rounds each. The pistols were further subjected to an environmental exposure test and a post-endurance evaluation.
Golden concluded, "The employees of Smith & Wesson are proud to support our nation's federal agents by supplying them with a top-grade, American made product that embodies our relentless focus on quality and performance, our innovative manufacturing techniques and the rich history of our company."
About Smith & Wesson
Smith & Wesson Holding Corporation (NASDAQ: SWHC) is a U.S.-based, global provider of products and services for safety, security, protection and sport. The company designs and constructs facility perimeter security solutions for military and commercial applications, and delivers a broad portfolio of firearms and related training to the military, law enforcement and sports markets. SWHC companies include Smith & Wesson Corp., the globally recognized manufacturer of quality firearms; Universal Safety Response, a full-service perimeter security integrator, barrier manufacturer and installer; and Thompson/Center Arms Company, Inc., a premier designer and manufacturer of premium hunting firearms. SWHC facilities are located in Massachusetts, Maine, New Hampshire, and Tennessee. For more information on Smith & Wesson and its companies, call (800) 331-0852 or log on to www.smith-wesson.com; www.usrgrab.com; or www.tcarms.com.
Liz Sharp, VP Investor Relations
Smith & Wesson Holding Corp.
(480) 949-9700 x. 115
Industry Contact: Matt Rice
Blue Heron Communications
SOURCE Smith & Wesson