by Joseph P. Tartaro | Executive Editor
Vista Outdoor Inc., which previously operated as the Sporting Group of Alliant Techsystems Inc., has announced the successful completion of its tax-free spin-off from ATK into a standalone, publicly traded outdoor sports and recreation company.
On Feb. 9, ATK distributed to its stockholders two shares of Vista Outdoor common stock for every share of ATK common stock held as of record on Feb. 2, 2015. Vista Outdoor common stock began trading under the symbol “VSTO” on the New York Stock Exchange when markets opened on Feb. 10.
“Today marks the creation of a new leading commercial and consumer-products company focused on innovative solutions, strategic customer partnerships, execution excellence and creating long-term shareholder value,” said Mark DeYoung, Vista Outdoor Chairman and Chief Executive Officer. “Our consumers depend on our products to deliver quality and performance in a variety of outdoor environments and activities. Our mission is to bring the world outside, and to support and facilitate the success of outdoor enthusiasts as they strive to achieve their own rugged independence. We are focused on delivering value to our customers, maintaining and increasing our market share, supporting communities where we do business and growing into adjacent markets through capturing both organic and external growth opportunities. I am proud of the skilled and highly qualified executive leadership team we have assembled to lead Vista Outdoor and of our 5,800 passionate employees around the globe who are working to deliver quality products and services that support Vista Outdoor’s business strategies.”
Vista Outdoor operates in two segments, Outdoor Products and Shooting Sports, and has more than 30 well-recognized brands, including Federal Premium, CCI, Speer, Alliant Powder, Blazer and Estate Cartridge in the ammunition and components field, Savage Arms in the firearms field, and such optics brands of Bushnell, Weaver, Simmons, Millet, Tasco and Night Optics. In addition, Vista Outdoor has camping, archery and other related product brands.
Headquartered in Utah, Vista Outdoor has manufacturing operations and facilities in 10 US states, Puerto Rico, Mexico and Canada along with international sales and sourcing operations in Mexico, Canada, Europe, Australia, New Zealand and Asia.
“Operation Choke Point”
In a major development concerning the National Shooting Sports Foundation’s (NSSF) leadership to halt discrimination in the provision of financial services and products to firearms related businesses due to “Operation Choke Point,” the top officials of the Federal Deposit Insurance Corporation (FDIC) recently admitted wrongdoing and said they would cease practices that had the effect of encouraging such disparate treatment.
US Rep. Blaine Luetkemeyer (R-MO) released a statement after a meeting with FDIC Chairman Martin Gruenberg and Vice Chairman Tom Hoenig discussing the agency’s involvement in Operation Choke Point.
The congressman told NSSF, “After a year of mounting pressure from Congress and outside organization like the National Shooting Sports Foundation, top officials from the Federal Deposit Insurance Corporation finally acknowledged their involvement and wrongdoing in Operation Choke Point. While I am very pleased the FDIC will put in place new polices and change the culture at the agency, there is still work to be done, specifically with the Department of Justice. I am pleased the National Shooting Sports Foundation supports my legislation, the Financial Institution Customer Protection Act, and I have no doubt the foundation will remain steadfast in educating its members and continuing the fight in ending Operation Choke Point once and for all.”
NSSF data
The January 2015 NSSF-adjusted National Instant Criminal Background Check System (NICS) figure of 1,052,441 is now the second highest January on record for the 16-year-old system, with an increase of 8.4% compared to the January 2014 NSSF-adjusted NICS figure of 970,510. For comparison, the unadjusted January 2015 NICS figure of 1,763,233 reflects a 6.8% increase from the unadjusted NICS figure of 1,650,565 in January 2014.
NSSF also reported that the latest Firearms and Ammunition Excise Tax Collection report released by the Department of the Treasury indicates that firearm and ammunition manufacturers reported tax liabilities of $168.9 million in the 3rd calendar quarter of 2014, down 25.5% over the same time period reported in 2013. Still, the 2014 period is the second highest third quarter on record, reflecting continuing historically strong firearms and ammunition sales.
More detail is available online at: nssf.org.
3-Gun linkup
Chamber-View®, LLC, innovators behind highly visual firearms safety products, has announced a new sponsorship with Tarheel 3-Gun, LLC. Chamber-View® will be working closely with Tarheel 3-Gun to advocate the importance of safety to competitors and promote safe handling of firearms with the use of Chamber-View® Empty Chamber Indicators (ECIs). Chamber-View’s sponsored athletes Jesse Tischauser and Matt Holmes will be in attendance at several of the Tarheel 3-Gun matches throughout the 2015 match season.
Tarheel 3-Gun, LLC administers 3-Gun matches throughout the US.
Made in USA AK-47 reported in the works
RWC Group, the licensed American importer for the Kalashnikov company, revealed at the January SHOT Show that it would form a new company known as Kalashnikov USA to manufacture AUK-style firearms in the US. The company is currently negotiating with three US states to locate a production plant, with the semi-automatic rifles, as well as shotguns, rolling off the lines in the second quarter of this year, according to MarketWatch.com.
