Colt Defense and FN America have won a $212 million contract to provide M4 and M4A1 carbines to the US Army.
The contract runs through Sept. 24, 2020, the Defense Department announced Friday.
M4s are variants of the M16A2 assault rifle and will replace the M16 line as part of the Army’s weaponry for combat units. The M4A1 carbine fires in semi-automatic and full-automatic modes while the M4 itself fires only in three-round bursts and semi-automatic mode.
The Army Contracting Command at Picatinny Arsenal is the contracting activity for the M4 and M4A1 deal with Colt Defense and FN Herstal‘s US subsidiary.
US based Firearms manufacturer Colt has filed for bankruptcy after it failed to garner support of bondholders for a debt reshaping agreement, the company said in a statement last Sunday. "Colt plans to try to reduce its $355 million debt burden via a court-supervised auction of its business, to generate proceeds to repay some of its lenders," Wall Street Journal reported Monday, 15, June 2015
Colt Defense LLC has been awarded an Indefinite-Delivery/Indefinite-Quantity contract by the U. S
Colt's Manufacturing Co. has won $57
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