With demand for firearms running hotter than lead through a Gatling gun, Sturm, Ruger announced today that it has acquired a new production facility in Mayodan, N.C.
As one of the leading firearms manufacturers and the only full-line manufacturer of American-made firearm, Ruger said the new facility is the company's first major expansion in more than 25 years. It anticipates the new facility will begin during the first quarter of 2014.
In its quarter ending July 1, Sturm, Ruger reported revenues surged 50% and profits rocketed 79% higher as National Instant Criminal Background Check System background checks rose 16% from the year-ago period. Ruger suffered from having insufficient distributor inventory on hand at the end of 2012, which severely limited the sell-through from independent distributors to retailers in the first half of 2013.
Manufacturing firearms for more than 60 years, Sturm, Ruger offers consumers about 400 variations of more than 30 product lines.
The article Sturm, Ruger Acquires North Carolina Facility originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Sturm, Ruger & Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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