PRAGUE, Czech Republic — Czech firearms company Ceska Zbrojovka has signed a deal to acquire Colt, the American gun maker that helped develop revolvers in the 19th century and has since supplied the armed forces in the U.S. and other countries.
Ceska Zbrojovka Group SE said Friday that it has purchased all the shares in Colt Holding Company LLC, the parent company of Colt’s Manufacturing Company LLC and its Canadian subsidiary, Colt Canada Corp.
The deal is worth $220 million and 1,098,620 newly issued shares in Ceska Zbrojovk and is subject to approval by regulators. The Czech company said it expected the transaction to be completed in the second quarter of 2021.
“With this strategic move, CZG will acquire significant production capacity in the United States and Canada and substantially expand its global customer base,” the Czech company said.
The Czech company has some 1,650 workers in the Czech Republic, United States and Germany.
© 2021 The Canadian Press. All rights reserved.
By the time the Democrat communists take away our Second Amendment rights, Colt will have no facilities in the United States.
Maybe that’s WHY they are moving out of country, in anticipation of the commucrats killing the 2a.
The Democrats are making the companies manufacturing guns legally responsible for crimes committed with their guns, so they are selling off their companies to foreign nations. Now our U.S. military will have to buy their guns from China, Russia, etc.
Now don’t you have faith and trust
in our new “Socialist Democrat Party State”………. Comrade?
This will not stop crime but it will stop U.S. companies from making Guns.
Just watch next Beijing Joe Biden will get his China to buy all of the Ammunition and gun manufacture companies in the U.S., then have them not sell the guns or ammunition in the U.S..
And just watch.. ALL LAST YEAR, there was not a single mass shooting i remember. NOW the talk has gotten back to gun control/seizure etc, there’s GONNA BE ONE< just to stir up anti-gun hatred…
Well, guess i won’t be buying anything from Colt anymore.
Again with the canadian press, reveling in the downfall of America. Anyone notice the SKYROCKETING sales of firearms and ammunition, along with the SKYROCKETING prices of same? Can there be any doubt that the American people are arming themselves to protect their rights from their own government? There is a bad wind blowing in America.
Hell, even trying to buy the stuff to MAKE YOUR Own ammo, has seen the prices of the tools, go up……