Colt Suspends Production of AR-15 and Other Rifles for Civilians
September 19th, 2019Via: CBS:
Gunmaker Colt Manufacturing said Thursday it is temporarily halting production of rifles for the civilian market, including the popular AR-15.
In a statement, Colt CEO Dennis Veilleux said the company is not permanently ending production of the semi-automatic weapon, but believes there is already an adequate supply of such rifles on the market.
“The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity,” Veilleux said.
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Colt will instead concentrate on fulfilling military and law enforcement contracts with its rifle manufacturing. Veilleux said the company has been awarded “significant” military and law enforcement contracts.
“Currently, these high-volume contracts are absorbing all of Colt’s manufacturing capacity for rifles,” he said.
