#Business

US Palm announced on its Facebook page that the company was shutting down. At this time, the company’s website is inaccessible.

The post-election gun industry downturn has hit Federal Premium Ammunition, which laid off a significant number of its employees earlier this month. 110 of the roughly 1400 workers at the company were let go from the company’s Anoka, Minnesota plant, the company confirmed. This announcement surprised Minnesota state officials, who had before the end of last year granted the company set of grants and loads worth $1.15 million to expand. Federal informed the state that these grants would no longer be necessary, and that they were cancelling them. Although the expansion is expected to continue, the hiring goals that were conditions of the grants are no longer achievable, Federal said.

SIG Sauer is not quite out of the woods yet regarding their recent Modular Handgun System contract win. Finalist Glock – who for many was the favorite to win – has protested the XM17 contract award. SIG won the MHS contract earlier this year with a variant of their P320 handgun based on the Compact frame. The news of SIG’s win was announced on January 19th, the day before the inauguration of the new US President and his administration.

An ammunition company has evidently closed its doors: HPR Ammunition, a subsidiary of Advanced Tactical Armament Concepts, LLC, reportedly shut down in mid-September, according to local news outlet Payson Roundup:

My friends over in the suppressor forum of AR15.com came across a curious ‘new’ product within the pages of Tracking Point’s commercial website this week. The ‘Hush-S’ and ‘Hush-L’ suppressors are listed as being ‘optimized’ for use with Tracking Point’s precision-guided firing systems. From the company’s webpage:

Manufacturer of the Vector submachine gun, and parent company to Sphinx System AG, makers of high-end CZ 75 handgun derivative, may be in financial trouble. At the end of 2015, Sphinx System AG was declared bankrupt; now its parent company may be in danger as well due to court-ordered restructuring. From DWJ.de:

Sciens Capital Management, the hedge fund managers that own Colt Defense, LLC, have failed to meet the January 8 deadline for funding the famous gunmaker’s exit from bakruptcy. The Wall Street Journal reports:

Heckler and Koch announced in a recent press release that Nicola Marinelli has been appointed to the Board of Executives, and would be taking over as manager of operations:

Cerberus, the financial group that owns Remington and the other members of the former Freedom Group, have met with no success in selling the company, an effort that began due to political pressures from its investors. The Wall Street Journal reports: