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GM Defense and Anduril Announce Teaming Agreement

Tuesday, October 17th, 2023

WASHINGTON, D.C. — GM Defense LLC, a subsidiary of General Motors (GM), and Anduril Industries, Inc. announced a teaming agreement, establishing a framework to collaborate on defense program capture activities. The team is focused on delivering autonomy solutions, battery electrification and other new propulsion technologies, as well as those integrating the full range of Anduril technologies onto GM Defense mobility solutions.

During the Association of the U.S. Army tradeshow in Washington, D.C. both companies showcased variations of the proven and fielded Infantry Squad Vehicle. GM Defense had a four-seat Multi-Mission and Logistics ISV equipped with Anduril loitering munitions. Anduril hosted GM Defense’s nine-Soldier ISV, currently fielded to the U.S. Army’s 82nd and 101st Airborne Divisions, in addition to Lattice, Anduril’s sensor, network, and system-agnostic open software platform, for land systems command and control.

“GM Defense has a strong strategic alignment with Anduril as we are both focused on bringing disruptive new technologies into the defense and government marketplace to deliver innovative solutions for our customers,” said Steve duMont, GM Defense president. “We feel this is a powerful team, and together we can make a strong offering for key U.S. defense programs while assessing other global opportunities.”

With experience in ground vehicle autonomy, sensing, vehicle safety systems and connected vehicle fleet analytics, GM Defense develops solutions based on the advanced technologies of its parent company, General Motors, that help advance warfighter capabilities with some of the most advanced technologies available on the commercial market.

Anduril is a leading provider of advanced defense technologies, artificial intelligence, autonomous systems and integrated defense solutions. “We are thrilled to be working with GM Defense to produce new capabilities for land systems. Advanced software for mission-level autonomy can transform ground systems, and GM Defense will be a critical teammate to deliver next-generation land systems for warfighters around the world,” said Anduril Industries CEO, Brian Schimpf.

For the latest GM Defense news, please visit www.GMDefenseLLC.com and follow GM Defense on LinkedIn.

Posted in Industry, Mobility, Munitions, Press Release | Comments Off on GM Defense and Anduril Announce Teaming Agreement

Vista Outdoor Enters into Definitive Agreement to Sell Sporting Products Business to Czechoslovak Group for $1.91 Billion

Tuesday, October 17th, 2023

ANOKA, Minn.–(BUSINESS WIRE)– Vista Outdoor Inc. (NYSE: VSTO) (“Vista Outdoor”), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, today announced a definitive agreement to sell its Sporting Products business to Czechoslovak Group a.s. (“CSG”) for an enterprise value of $1.91 billion in an all-cash transaction subject to customary closing conditions. This transaction represents the next step in Vista Outdoor’s plan to split the company into separate entities, which was previously announced on May 5, 2022.

CSG is a leading industrial technology holding company, operating within five strategic business segments, including defense, aerospace, ammunition, mobility and business. CSG is 100% owned and led by Michal Strnad, who has transformed it into a leading Czech industrial group with a strong international footprint. CSG employs more than 10,000 people worldwide and it owns and manages a diverse portfolio of industrial and trade companies across the defense and civil sectors.

“This is an important strategic step for our company in creating value through separating our Outdoor Products and Sporting Products segments,” said Gary McArthur, interim CEO of Vista Outdoor. “The previously announced plan to separate our businesses has positioned us to execute seamlessly on this transaction, which we believe is the best path to maximize value for our stockholders, while better positioning Sporting Products and Outdoor Products for future success.”

“We are confident that CSG is a great home for our leading ammunition brands,” said Jason Vanderbrink, CEO of Sporting Products. “The company is fully committed to our iconic American brands and expanding our legacy of U.S. manufacturing, support for military and law enforcement customers, and investments in conservation and our hunting and shooting heritage. We are excited to work closely with the CSG team as we enter this next phase and position our brands for long-term success.”

Added Michal Strnad, CEO of CSG, “Jason and the Sporting Products leadership team have a strong heritage of delivering high quality products, and we are pleased to welcome them to the CSG family of companies as we partner to support their next chapter. We look forward to building on the company’s success in delivering innovative, quality products and are confident in the long-term value we can create together. We are committed to expanding their legacy of U.S. manufacturing and providing resources to accelerate their growth.”

Transaction Details

The transaction values the Sporting Products business at an enterprise value of $1.91 billion, on a cash-free, debt-free basis with a normalized level of working capital, and is supported by $1.11 billion of fully committed debt financing with the remaining amount funded by CSG. The valuation is approximately 5x enterprise value to Sporting Products FY24 EBITDA, including estimated standalone costs. To effect the transaction, Vista Outdoor will separate its Outdoor Products business from its Sporting Products business, and CSG will merge one of its subsidiaries with Vista Outdoor (holding only the Sporting Products business), with current public stockholders of Vista Outdoor receiving shares of Outdoor Products (recently rebranded as Revelyst) and approximately $750 million in cash in the aggregate. This will be treated as a taxable sale of a stockholder’s Vista Outdoor shares for the Outdoor Products shares and cash consideration they receive in the merger, allowing stockholders to recover tax basis and recognize built-in gain and loss in their Vista Outdoor shares. Relative to a divestiture of Sporting Products as an asset sale, this structure has corporate level tax of approximately $50 million versus approximately $380 million for a divestiture as an asset sale and allows for the tax-efficient return of cash to stockholders.

The transaction is expected to close in calendar year 2024, subject to approval of our stockholders, receipt of necessary regulatory approvals and other customary closing conditions.

Upon closing, Vanderbrink will remain CEO of the Sporting Products business and the U.S. headquarters will remain in Anoka, Minnesota. In connection with the transaction, the company’s approximately 4,000 employees who represent four factories and the consumer brands CCI, Federal, HEVI-Shot, Remington and Speer will continue their heritage of community and conservation support through local and national organizations.

Outdoor Products

Upon completion of the sale of the Sporting Products business to CSG, Vista Outdoor’s Outdoor Products business will become Revelyst, Inc. (“Revelyst”), an independent publicly traded company trading on the New York Stock Exchange under the ticker “GEAR.” Revelyst will leverage meticulous craftsmanship and cross-collaboration across its portfolio of category-defining brands. Brands include Fox, Bell, Giro, CamelBak, Camp Chef, Bushnell, Simms Fishing, Foresight Sports, Bushnell Golf and more. Eric Nyman will continue as CEO of Outdoor Products and become the CEO of Revelyst upon transaction close.

Leadership Update

Joining Vanderbrink on the leadership team at Sporting Products will be Al Kerfeld, CFO; Jeff Ehrich, General Counsel and Corporate Secretary; and Mark Kowalski, Controller and Chief Accounting Officer. Andy Keegan, currently vice president and interim CFO of Vista Outdoor, plans to join Revelyst as CFO.

For full financial disclosure, visit news.vistaoutdoor.com/newsroom/press-releases/press-release-details/2023/Vista-Outdoor-Enters-into-Definitive-Agreement-to-Sell-Sporting-Products-Business-to-Czechoslovak-Group-for-1.91-Billion

Posted in Industry, International, Press Release | 10 Comments »

Bushnell Returns as Presenting Sponsor for 11th Annual GAP Grind PRS Pro/Am

Saturday, October 14th, 2023

Largest Precision Rifle Match in Nation Sponsored by Bushnell for Over a Decade

OVERLAND PARK, Kan. – October 12, 2023 – Bushnell®, an industry leader in performance optics, was proud to once again serve as title sponsor for the 11th annual GA Precision/Bushnell Elite Tactical “GAP Grind” Pro/Am. The annual precision rifle match drew more than 350 shooters from across the country and around the globe who traveled to Tennessee to compete in this unique two-person team long-range competition.

Bushnell has served as a presenting sponsor of the match for over a decade, and has been a longtime supporter of PRS competitions. Through its high quality long-range optics and numerous professional shooters, Bushnell and Elite Tactical™ have become trusted names in the precision shooting world. For 2023, the company continues to introduce purpose-built optics that long-range shooters can count on, such as the new Match Pro ED 5-30X56 riflescope and Match Pro ED 15×56 binoculars.

“We always look forward to attending the GAP Grind,” said Carlos Lozano, Bushnell brand manager. “There’s no other shooting event like it in the world, and we love how it provides an opportunity for so many new people to experience long range shooting. Bushnell has always been focused on finding new ways to grow the shooting sports and the continued success of the GAP Grind speaks for itself.”

On Friday, Bushnell hosted two side stages before the main match began, providing an opportunity for competitors, range officers and volunteers to test out the brand’s latest optics. At the side stages, attendees were able to test out the new Bushnell Match Pro ED riflescope and Match Pro ED binoculars in a modified .22LR course of fire and then test their pistol skills with the new RXM 300 Reflex Sight.

Not only were Bushnell employees on-site throughout the weekend participating in and supporting the match, but Bushnell also contributed several match awards to various competitors and participants. Among these awards were the Deserving Amateur, Deserving Range Officer and Top Sportsman.

Bushnell wishes to congratulate all the shooters who took part in the match and looks forward to joining them again next year at the K&M Precision Rifle Training Shooting Complex in Finger, Tennessee.

For more information on the GAP Grind and to see full results, visit precisionrifleseries.com.

For more information on Bushnell Elite Tactical or to see their full lineup of optics, visit Bushnell.com.

Posted in Industry, Press Release, Shooting Sports | Comments Off on Bushnell Returns as Presenting Sponsor for 11th Annual GAP Grind PRS Pro/Am

NIOA Begins Boxer Ammunition Production

Thursday, October 12th, 2023

NIOA has begun ammunition production for the Army’s next-generation armoured Boxer vehicle, marking a significant milestone for munitions manufacturing in Australia.

The company will produce 40,000 rounds of medium calibre training ammunition at the Commonwealth Government-owned NIOA-operated plant in Benalla, Victoria for the Boxer Combat Reconnaissance Vehicle (CRV) which is being made in Queensland by Rheinmetall.

Minister for Defence Industry Pat Conroy (centre) with GWEO Chief AVM Leon Phillips (left) and members of the NIOA team at the Benalla facility…and (below) the 30mm projectiles coming off the line, bound for testing in the Boxer combat vehicle’s cannon.

It comes as the Minister for Defence Industry, Pat Conroy announced a $220 million investment in munitions production at Benalla and another government-owned contractor-operated (GOCO) factory at Mulwala in regional New South Wales.

Minister Conroy and Guided Weapons and Explosive Ordnance (GWEO) Enterprise Chief AVM Leon Phillips OAM toured NIOA’s Benalla operation last Friday (Eds: October 6) as the first batch of 30mm projectiles was being prepared to roll off the line.

A key recommendation of the Defence Strategic Review was to replenish GWEO stocks and to establish sovereign missile and munition manufacturing facilities in Australia.

“Improving Australia’s ability to manufacture the munitions our defence force needs is not only critical to meeting the strategic challenges we face as a nation, it will also support local industry and well-paid, skilled local jobs,” Minister Conroy said.

“The Mulwala and Benalla munition factories underpin Australia’s ability to develop critical propellants, explosives and munitions for the Australian Defence Force.”

NIOA Australia and New Zealand CEO Ben James welcomed the Government’s investment in domestic munitions production.

“This will further support Australia’s growing defence industrial base and comes at an exciting time as we ramp up production of the Boxer ammunition at Benalla,” he said.

“NIOA’s $12m investment at Benalla reflects our commitment to work with Government and Defence in delivering sovereign capability and local jobs.

“We have a highly qualified and professional team at Benalla who have worked exceptionally hard to reach this key milestone in sovereign munitions manufacture.”

The NIOA tenancy at Benalla maintains the Commonwealth’s capabilities for the manufacture of primary energetics, pyrotechnics, medium calibre, mortar and tank ammunition, hand grenades, fuzes, primers, along with various laboratory test facilities.

The company recently completed work recapitalising 120mm tank ammunition for the Australian Army’s M1A1 Abrams tank fleet.

www.nioa.com.au

Posted in Ammo, Industry, International, Press Release | Comments Off on NIOA Begins Boxer Ammunition Production

TrueTimber Camo to Serve as Primary Sponsor on Jack Wood’s No. 51 NASCAR Craftsman Truck Series Ride at Talladega

Monday, October 9th, 2023

INMAN, S.C. – TrueTimber is proud to announce a partnership with Kyle Busch Motorsports (KBM) naming TrueTimber as the primary sponsor on Jack Wood’s No. 51 Silverado for Saturday’s NASCAR Craftsman Truck Series race at Talladega Superspeedway. Wood’s Chevrolet will also carry associate sponsorship from Bass Pro Shops, North America’s premier outdoor and conservation company, and Zariz, a fast-growing intermodal drayage company specializing in transporting containers form the ports, for the event.

“We are really excited to partner with KBM and Jack for this race,” said TrueTimber CEO Rusty Sellars. “Talladega is such an iconic track, and it will be awesome to see the number 51 truck sporting TrueTimber camo. We had Jack over to the warehouse last week and it was great to meet and spend some time with him to show him all about what we do here at TrueTimber. We wish him and the entire KBM team the best of luck this weekend.”

Saturday will mark Wood’s 11th Truck Series start of his debut season with KBM. The California native has qualified inside the top 10 in half of his starts in 2023 and has produced two top-10 finishes, include a career-best ninth place result at Texas Motor Speedway in April. In addition to his part-time schedule for KBM, he has produced two top-five, and six top-10 finishes across eight ARCA Menards Series starts for Rev Racing this season, including a sixth-place finish at Talladega in April.

“It’s exciting to have TrueTimber on the truck as well as our associate sponsors Bass Pro Shops and Zariz Transport,” said Wood. “It’s great having everyone come together to help us get out to the track. This is probably one of my favorite paint schemes I’ve ever had on a race car—it turned out pretty sweet. Thankful to Rusty and all the people at TrueTimber that helped back this. I had the opportunity to go down to their plant near Spartanburg, South Carolina and had the opportunity to meet a lot of the people and check out what they do there. It will be fun to have them at the racetrack, especially at a cool place like Talladega.”

To learn more about the entire TrueTimber product line and see all available patterns, visit TrueTimber.com.

Posted in Camo, Industry, Press Release | 2 Comments »

ARTEC Partners Set Up New Subsidiary in UK

Sunday, October 8th, 2023

The shareholders of ARTEC GmbH (Krauss-Maffei Wegmann GmbH & Co. KG, Rheinmetall Landsysteme GmbH and Rheinmetall Defence Nederland B.V.) have elected to set up a new subsidiary in the United Kingdom, ARTEC Boxer UK Ltd.

The company will be a wholly owned subsidiary of ARTEC GmbH and assume responsibility for its operational activities in the UK. These include providing the British Army with service and maintenance support for the Boxer armoured transport vehicle. Furthermore, ARTEC Boxer UK Ltd. will pursue export orders.

The company’s operational goals include growing its market share in the UK service sector as well as gaining ground in the global market for highly protected 8×8 vehicles.

The agreement to create ARTEC Boxer UK Ltd was signed during the DSEI defence show in London.
From left to right: James Cartlidge, MP, Britain’s minister of state for defence procurement;
Armin Papperger, chairman of the executive board of Rheinmetall AG; and, Ralf Ketzel, chairman of the board of management Krauss-Maffei Wegmann GmbH & Co. KG.

Posted in Industry, International, Press Release | Comments Off on ARTEC Partners Set Up New Subsidiary in UK

Quantropi Picks Evergreen Innovations to be Distributor to U.S. Department of Defense

Friday, October 6th, 2023

Evergreen to sell company’s quantum security products in anticipation of Y2Q

TIMNITH, Colo.– Evergreen Innovations LLC (“Evergreen”), a tactical communications integrator, announced today that the company has formed a strategic partnership with Quantropi, a Canadian provider of quantum security products.

Evergreen Innovations will act as Quantropi’s official American distributor to the U.S. Department of Defense (DoD), streamlining the process by which the U.S. military purchases cutting-edge encryption technology.

“We are excited to be collaborating with Quantropi,” said Chris Wallower, CEO of Evergreen. “The encryption products they offer will keep the DoD ahead Y2Q.”

Y2Q, sometimes called “Q-Day,” is that future point in time when quantum computers would have advanced so far that they will be able to defeat the public-key encryption systems that keep military and civilian communications private and secure.

When that happens, all bets are off, Wallower notes.

To its credit, the U.S. government has been tracking the Y2Q problem. The Biden Administration, for example, signed into law H.R. 7535: Quantum Computing Cybersecurity Preparedness Act in 2022.

But new novel attacks leveraging AI and Machine Learning have greatly compressed the timeline to Y2Q.

“The DoD knows this day is coming, and they’ve been preparing for it,” said James Nguyen, CEO of Quantropi. “Unfortunately, technology doesn’t advance in a slow, linear fashion. It can sometimes make very rapid advances. Most of the focus has been on upgrading asymmetric encryption, but for optimal security, symmetric encryption and quantum random number generation need to be addressed as well.”

The Quantropi QiSpace™ platform offers a complete set of cryptographic capabilities that have distinct security and performance advantages. The solutions are:

• MASQ™: an asymmetric cryptographic suite that supports NIST-standard and novel Quantropi post-quantum algorithms for both key exchange and digital signature;

• QEEP™: a quantum secure symmetric algorithm that is up to 18 times faster than AES-256 with no performance degradation for keys up to 400 times larger; and

• SEQUR™: a scalable, high-performance SaaS solution for quantum random number generation and distribution to endpoints over existing network infrastructures.

“We are eager to have Evergreen introduce our post-quantum solutions to the DoD,” Nguyen said. “We understand that people can be wary of bold technological promises. That’s why we welcome rigorous military testing. We are confident that QiSpace™ can provide quantum security for a wide range of DoD use cases.”

Posted in Disruptive Tech, Industry, Press Release | Comments Off on Quantropi Picks Evergreen Innovations to be Distributor to U.S. Department of Defense

Blue Force Gear Enforces Its Trademark Rights

Thursday, October 5th, 2023

Pooler, GA, October 5, 2023 – BLUE FORCE GEAR, INC., an industry-leading manufacturer of innovative tactical gear, equipment, and accessories, has asserted its trademark rights and reached a settlement with Tacticon Armament (“Tacticon”) out of California in the case of Blue Force Gear, Inc. v. Concealed Carrier, LLC. DBA Tacticon Armament (Case No. 4:23-cv-00055-WTM-CLR). BLUE FORCE GEAR is the owner of numerous domestic and international trademarks, including: (1) BLUE FORCE GEAR®; (2) BFG®; and (3) its cross trademark, which is used in connection with a variety of products, including the TRAUMA KIT NOW!®, MICRO TRAUMA KIT NOW!™, and the HAMMOCK®.

Tacticon has agreed to permanently discontinue using the mark that was the subject of the BFG Complaint and has settled the matter for an undisclosed monetary amount. The specific terms of the settlement agreement are confidential.

BLUE FORCE GEAR is committed to protecting its intellectual property, including its trademarks, patents and copyrights, and to ensure that consumers are able to purchase genuine, non-counterfeit high-quality BLUE FORCE GEAR products. Blue Force Gear General Counsel, Justin Charles Ward, stated: “Protecting Blue Force Gear intellectual property and its innovative products is our utmost priority in protecting our consumers and our brand.”

www.blueforcegear.com

Posted in Advertiser, Industry, Press Release | 4 Comments »