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Winchester USA closing -- complications
According to Newday, the Winchester plan closure in Connecticut is growing more complex. The factory is owned by Herstal Group, a Belgian firm, which is said to plan to discontinue the "traditional" rifle but continue "specialty" ones (whatever those terms mean -- does traditional mean the Model 94, or include the Model 70?) made overseas. But the right to use the Winchest name is owned by the Olin Corp.
City and union leaders have offered to buy the plant for a nominal sum and forget about back taxes and contract penalties, which they say total $17 million (a figure Herstal disputes). And Olin says that closing the US factory would violate its contract allowing Herstal to use the Winchester name (a contract that expires next year anyway).
Comments
Hmmm, so was this all, like, a wicked capitalist plot to get us to run out and buy Winchesters for sentimental reasons or as collectibles like the "last Cadillac convertible"? I bought one (wanted one anyway, but the plant closure pushed me over the edge)for my wife, but the clerk said several people had been in and bought five or more the same day.
Viral marketing in the financial pages?
Doug
Posted by: Doug In Colorado at March 20, 2006 05:13 PM
Here is another piece of American history sold to the highest bidder without care of heritage or the road traveled before. I knew John and Spencer Olin, and their committment to their employees, products, and the America workers. They believed in this weapon always being made in the U.S. and it was only after the paperchasers took over and gutted Olin, that this changed. The Profit Whores of Industry once again rapes America.
Posted by: Kent Barbee at May 2, 2006 02:11 PM