GunnyGene
Hawkeye
This is gonna hurt them.
Smith & Wesson notified investors Friday that the M&P will not advance to the next phase of testing in the Defense Department’s mission to replace the Army’s M9.
With only a handful of manufacturers vying to be the Army’s new Modular Handgun System, Smith & Wesson is the first company to publicly get the boot.
The Massachusetts gun maker campaigned heavily for the contract, even partnering with defense giant General Dynamics in 2014 for an added boost. GenDyn signed on to provide barrels for the M&P and also lend its expertise navigating the bureaucratic process.
“They (GenDyn) bring a level of skill and knowledge that we did not have,” Smith & Wesson Chief Executive Officer James Debney said during a third quarter meeting in March. “Obviously, we’re a good partner as well because we bring what our core competency is, is that we can design and manufacture great handguns.”
Smith & Wesson investors have anxiously awaited news on the contract valued at $580 million. During a meeting earlier this month, MHS questions cropped up continually as investor’s aimed to pinpoint Smith & Wesson’s standing within the Army’s process. At that time Debney reported no movement, but said he was confident a win would boost the gun maker’s authority.
“The professional community is extremely important to us, as I’ve said before. It holds us to a much higher standard than if we were just, say, a consumer product business,” said Debney during the company’s first quarter investor’s call. “It certainly gives your product a lot of credibility if it is used, adopted and well-regarded by that professional community because the consumer does pay attention to that.”
http://www.guns.com/2016/09/26/smith-wesson-mp-will-not-replace-m9-as-armys-sidearm/?utm_campaign=trueAnthem:+Trending+Content&utm_content=57e914cf04d3016b606919fe&utm_medium=trueAnthem&utm_source=facebook