They are under new ownership already.
http://www.bizjournals.com/nashville...5-million.html
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They are under new ownership already.
http://www.bizjournals.com/nashville...5-million.html
Thanks for the heads up. The feds generally break up companies that violate federal laws by selling off their assets. Hopefully all the employes will be called back to work soon, we have enough un-employed people in this country as it is.
Funny thing actually ITAR isn't a law. It's part of the CFR, administrative regulations of the executive branch. Moot point really but unilateral decisions involving paperwork by bureaucracies is something that annoys me to no end.
It really seriously sounds like they tried to shave the bottom line by mucking about with some paperwork and got caught.
Everyone is innocent until and unless proven guilty, and the British press has a flair for the dramatic but, this guy Savage sounds like a real egomaniac with a "laws don't apply to me" attitude. Even his own lawyer described him as a man who has an ‘unattractive’ personality:
http://www.dailymail.co.uk/news/arti...pons-Iraq.html
I certainly hope the new owners get Saber back up and running so the innocent bystander employees can keep their jobs. The real talent at Sabre is their barrel manufacturing. While I was't too excited by their ARs, their barrels offered a good value, filling a niche being above average in accuracy yet, less expensive than the high end barrel makers.
As for contracts with the US government, Sabre delivered the last of their M16 contract rifles several months ago, but still have contracts, mainly for for M2 barrels, worth over 10 million. It was those contracts that the purchasers were after. Only Colt and a small company, Manroy USA, showed up to bid on Sabre. After the biding reached 4.5 million dollars, the Colt representative said he would take a break and come back when Manroy had "Come to their senses" to which the Manroy's President replied "Maybe we don't have any senses". After a break, the bidding continued and following Manroy's bid of 4.95 million, Colt walked away.
http://www.tennessean.com/article/20...ruptcy-auction
As Manroy was really after the military contracts, it is yet to be seen how interested they will be in civilian sales. If, and that is a big if, Sabre's civilian AR and parts sales were profitable, it would seem logical to continue them.