YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Gunmaker Colt is suspending production of rifles, including the AR-15, for the civilian market.
Company officials said the focus for rifles would shift to fulfilling contracts with military and police customers.
"The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity," Colt CEO Dennis Veilleux said. "Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future."
Saying the company remains committed to the Second Amendment, Veilleux said Colt would expand its lines of pistols and revolvers.
Read more from The Associated Press.
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