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
Kalashnikovs lack of copyright over the AK-47 assault rifle is so severe that Venezuela is the only country with a fully legitimate license to produce the assault rifle. The counterfeit losses resulting from copyright infringement is so dire that Kalashnikov, manufacturer of the AK-47, is reporting an estimated loss of $50 million from 2013
General Dynamics and Colt Canada are teaming up to work on a networked rifle weapon system that will be offered as an alternative to radio-centric individual soldier systems. The solution will see Colt's Sniper (Soldier) Weapon & Observer Reconnaissance Devices (SWORD) system integrated with ruggedized smartphone-like technology, to bring the solider critical situational-awareness information via his weapon, according to Shephard
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