Smith & Wesson

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Smith & Wesson Holding Corp.

Type	Public NYSE: SWHC
Founded	1852
Founder	Horace Smith, Daniel B. Wesson
Headquarters	Springfield, Massachusetts, United States of America
Key people	Michael F. Golden (CEO), John A. Kelly (CFO),
Industry	Aerospace/Defense Products & Services
Products	Firearms and law enforcement goods
Revenue	US$190 million (2006)
Operating income	US$12.6 million (2006)
Employees	832 (2006)
Subsidiaries	Thompson/Center
Website	Smith-Wesson.com

Smith & Wesson NASDAQ: SWHC are the largest manufacturers of handguns in the United States. Their corporate headquarters are in Springfield, Massachusetts. Smith & Wesson have a reputation for the many types of ammunition they have introduced over the years and for their revolver expertise.

[edit] History of Smith & Wesson

Cal. .44, between 1881 and 1923

Model 1, cal. .22

Smith & Wesson Volcanic, cal. .31, between 1845 and 1855

Model 3, Cal. .44, between 1874 and 1878

[edit] Beginning

In 1852 partners Horace Smith and Daniel B. Wesson formed a company to produce a lever-action pistol nicknamed "The Volcanic". The company became known as the "Volcanic Repeating Arms Company", and due to financial difficulties came into the majority ownership of investor Oliver Winchester.

In 1856 the partners left the Volcanic Company to begin a new company and to manufacture a newly-designed revolver-and-cartridge combination. The timing of the founding of this new company proved quite opportune for the partners, as the onset of the American Civil War five years later produced a great demand for Smith & Wesson's products.

In 1964 the company passed from Wesson family control, and subsequently a number of conglomerates took control of it.

From 1987 to 2001 Tomkins PLC, a British company, owned Smith & Wesson.

[edit] The Agreement of 2000

In March 2000 Smith & Wesson signed an agreement with the Clinton administration in order to avoid lawsuits. The company agreed to a number of safety and design standards, as well as limits on the sale and distribution of their products. Gun clubs and gun rights groups responded to this agreement almost instantly by initiating large-scale boycotts of Smith & Wesson by refusing to buy their new products and flooding the firearms market with used S&W guns, cutting into their market share.^[1]^[2]^[3]

[edit] Acquisition by Saf-T-Hammer

On May 11, 2001, Saf-T-Hammer Corporation acquired Smith & Wesson Corp. from Tomkins PLC for US$15 million, a fraction of the US$112 million originally paid by Tomkins. Saf-T-Hammer also assumed US$30 million in debt, bringing the total purchase price to US$45 million.^[4]^[5] Saf-T-Hammer, a manufacturer of gun locks and other firearms safety products, purchased S&W with the intention of incorporating its line of security products into all Smith & Wesson firearms in compliance with the 2000 Clinton administration agreement.

The acquisition of Smith & Wesson was chiefly brokered by Saf-T-Hammer President Bob Scott, who left S&W in 1999 due to disagreement with Tomkins’ policies. After the purchase Scott became the President of Smith & Wesson to guide the 157-year-old company back to its former standing in the market.

On February 15, 2002 the name of the newly formed entity was changed to Smith & Wesson Holding Corporation.

[edit] Corporate governance

As of 2005 Smith & Wesson have the following members on its board of directors: Jeffrey Buchanan, John Furman, Michael F. Golden, Colton Melby, James Minder, Barry Monheit, Mitchell Saltz, Robert L. Scott, and Marie Wadecki.

[edit] Ammunition types introduced by Smith & Wesson

.22 Short — the popular .22 Long Rifle, based on the .22 Short actually developed by the J. Stevens Arms & Tool Co.
.32 S&W — sometimes called .32 Short
.32 S&W Gallery
.32 S&W Long — sometimes called .32 New Colt Police, or 32-44 Target
.35 S&W Automatic
.38 S&W — sometimes called .38 Colt New Police
.38 S&W Special
.357 S&W Magnum
.40 S&W
.41 Remington Magnum — While Remington developed the ammunition, S&W made the first revolvers to chamber this cartridge.
.44 S&W American
.44 S&W Russian
.44 S&W Special
.44 Remington Magnum (see note at .41 Remington Magnum)
.45 S&W Schofield
.460 S&W Magnum
.500 S&W Magnum

[edit] Famous S&W revolvers

Smith & Wesson Model 60, 3 inch barrel

S&W Model 3 — first automatic ejection of used ammunition

J-Frame (small) Models

S&W Model 60 — first stainless .38 Special
S&W Model 340PD — first revolver made of scandium alloy, very light, possibly the final evolution of the classic J-frame Chief's Special introduced over 60 years earlier
S&W Ladysmith

K-Frame (medium) Models

S&W Model 10 — first .38 Special, evolved from the famous Smith & Wesson M&P
S&W Model 12
S&W Model 13
S&W Model 14
S&W Model 15
S&W Model 16
S&W Model 17
S&W Model 18
S&W Model 19 — first lightweight .357 Magnum, built at the request of Bill Jordan
S&W Model 66 — Combat Magnum; the definitive S&W revolver when police officers still used wheel guns

L-Frame (medium-large) Models

Model 586 — blued steel
S&W Model 686 — stainless steel

N-Frame (large) Models

S&W Model 21
S&W Model 22
S&W Model 24

Smith & Wesson .357 Magnum stainless models 686 with 8" and 6" barrels

S&W Model 25 — both .45 ACP and .45 LC
Model 27 — first .357 Magnum; usually a custom or limited-run revolver, with a deep blue lustre
Model 28 — "Highway Patrolman" .357 Magnum; fewer frills than the Model 27, same performance; marketed to police due to its reduced price and equal performance.
Model 29 — first .44 Magnum, made famous by its appearance in the film Dirty Harry
S&W Model 1917 — first revolver chambered for .45 ACP
S&W Model 624
Model 625 — used by Jerry Miculek to set the world record for 12 rounds (with one reload) on target in 2.99 seconds
S&W Model 627 — replacement for Model 27
S&W Model 629

X-Frame

Model 500
Model 460XVR

[edit] Famous S&W semi-automatic pistols

[edit] Classic semi-automatic pistols

.45 ACP Chief's Special Model CS45

S&W Model 39 — first U.S.-designed double-action pistol in 9 mm Luger Parabellum
S&W Model 41 and later variants — target pistols chambered in .22 LR
S&W Model 52 and later, 52-1 and 52-2 — target pistols chambered in .38 Special, rare for auto-loading pistols
S&W Model 3913
S&W Model 4506
S&W Model 469
S&W Model 59 — first high-capacity double-action pistol in 9 mm Luger Parabellum
S&W Model 5906
S&W Model 910
S&W Model 1006 — stainless steel 10mm auto
S&W Model 4003-40 — used by law enforcement
S&W Model 4006-40 — used by law enforcement

[edit] Sigma series

A Sigma pistol

Smith & Wesson introduced the Sigma series of recoil-operated, locked-breech semi-auto pistols in 1994 with the Sigma 40, followed by the Sigma 9. Sigma pistols bore so much similarity to Glock's that users could reportedly interchange many parts between Glock and Sigma models. The similarities were so great that many pundits referred to the Sigma series as 'Swocks', a playful contraction of S&W and Glock. As a result, Glock initiated a patent infringement lawsuit against Smith & Wesson, which paid an undisclosed sum (the amount of three million dollars has been theorized) to Glock for infringement of their patents. S&W thereupon received the rights to continue the production of Sigma line, but they were forced to redesign the pistol's trigger mechanism so that it did not infringe upon Glock's patents.

The gun frame is manufactured from polymer, while the slide and barrel use either stainless steel or carbon steel. In 1999 S&W updated the Sigma by shortening the barrel (from 4-1/2 to 4 inches) and added an integral accessory rail for lights and laser target designators.

Sigma 9 — uses the 9 mm Luger Parabellum ammunition
Sigma 40 — uses the .40 S&W ammunition
Sigma 380 — uses the .380 ACP ammunition

[edit] SW99 Series

S&W also reached an agreement with Walther to produce variations of the P99 line of pistols. Branded as the SW99, the pistol is available in several calibers, including 9mm, .40 S&W, and .45 ACP, and in both full size and compact variations. Under the terms of the agreement, Walther produced the frames, and Smith and Wesson produced the slide and barrel. The pistol has several cosmetic differences from the original Walther design, and strongly resembles a hybrid between the P99 and the Sigma series mentioned above.

[edit] M&P Series

[edit] Pistols

In 2005, Smith & Wesson debuted a new polymer-frame pistol intended for the law enforcement market. Dubbed the M&P (for Military and Police), its name was meant to evoke S&W's history as the firearm of choice for law enforcement agencies through its previous lineup of M&P revolvers. Though similar in appearance to the still-produced Sigma lineup, the M&P is a new design. Many of the ergonomic study elements that had been incorporated into the Sigma and the SW99 were brought over to the M&P. The improved trigger weight and feel, and unique takedown method (not requiring a dry pull of the trigger) were meant to set the M&P apart from both the Sigma and the popular Glock pistols.

The M&P is available in 9x19, .40 S&W, and .357 SIG. A .45 ACP model was released in early 2007, after making its debut at the SHOT Show. In addition, compact versions are available in 9x19, .40 S&W and .357 SIG.

[edit] Rifles

In January 2006 Smith & Wesson entered into the AR-15 market with its M&P15 series of rifles. Unveiled at SHOT Show 2006, the rifle debuted in two varieties; the M&P15 and the M&P15T. Both are basically the same rifle, chambered in 5.56 NATO, with the T model featuring folding sights and a four-sided accessories rail. At its debut, the M&P15's suggested retail price was $1,200, while the M&P15T retailed for $1,700.^[6]

[edit] Shotguns

Smith & Wesson produced the Model 916,916T,916A 12 gauge shotguns which were plagued by poor quality control and had cascading minor issues in the field, prompting them to move on to the model 1000 and 3000 shotguns. However, Smith & Wesson exited the shotgun market in the early 70's to return to their "core" market of handguns.

In November 2006 S&W announced that it would reenter the shotgun market with two new lines of shotguns, the Elite series and the 1000 series, unveiled at the 2007 SHOT Show. Along with the new shotguns S&W debuted the Heirloom Warranty program, a first of its kind in the firearms industry. The warranty provides both the original buyer and the buyer's chosen heir with a lifetime warranty on all Elite Series shotguns.^[7]

[edit] SW1911 Series

A SW1911 pistol

In 2003, Smith & Wesson introduced their variation of the classic M1911 .45 ACP semi-automatic handgun, the SW1911. This firearm retains the M1911's well known dimensions, operation, and feel, while adding a variety of modern touches. Updates to the design include serration at the front of the slide for easier operation and disassembly, a high "beaver-tail" grip safety, external extractor, lighter weight hammer, and trigger, as well as updated internal safeties to prevent misfires if dropped. S&W 1911s are available with black finished carbon steel slides and frames or bead blasted stainless slides and frames. They are also available with aluminum frames alloyed with Scandium in either natural or black finishes. These updates have resulted in a firearm that is true to the M1911 design, with additions that would normally be considered "custom", with a price similar to entry-level M1911 designs from other manufacturers.

[edit] Internal Locking Mechanism

All Smith & Wesson firearms have been equipped with an internal locking mechanism since the acquisition by Saf-T-Hammer. The mechanism itself is a relatively unobtrusive lock which, when activated with a special key, renders the firearm inoperable. While the lock could simply not be used at all, some gun owners refuse to buy "post-lock" guns, fearing the extra part might fail when they need it most. Smith & Wesson have repeatedly stated that the locking mechanism does not affect reliability. More, however, dislike it as it reeks of government interference, and is symbolic of one of the country's oldest firearms makers "giving in".

[edit] Police bicycles

In addition to firearms, Smith & Wesson has also licensed its name to a line of bicycles designed by and for police. These bicycles have features such as higher handlebars and silent hubs.^[8]^[9]

[edit] Flashlights

Smith & Wesson Flashlights are also now available to the general public. They are designed and produced by PowerTech, Inc. in Collierville, Tennessee with Smith & Wesson's approval on every product.

[edit] Miscellaneous

Nineteenth century Japanese samurai and revolutionary Sakamoto Ryoma carried a Smith & Wesson revolver.^[10]

In 2005, the History Channel released a documentary about Smith & Wesson titled "Tales of the Gun: Guns of Smith & Wesson".^[11]

In November 2006, Smith & Wesson announced that it began manufacture of shotguns for the 2007 model season, a market it had not been a part of since the 1970s^[12]

[edit] References

[edit] External links

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