Federal Bureau of Prisons Awards Sturm, Ruger & Co., Inc. 5-Year Contract
March 27, 2008
Sturm, Ruger & Company, Inc. (NYSE:RGR) is proud to announce that it has been awarded a 5-year requirements contract for the Federal Bureau of Prisons. The contract is for 1,750 9mm pistols, with the potential to replace up to 3,000 pistols for the federal prison system. The pistols to be supplied are based on the Ruger KP95 models. The pistols are double-action only, incorporate a stainless steel slide, and feature a custom polymer composite frame with a picatinny rail.
"We are pleased to have the opportunity to work with the Federal Bureau of Prisons," said Ruger Chief Executive Officer Mike Fifer. "The Bureau of Prisons strives to provide a safe environment for both employees and inmates, and Ruger is proud to contribute to that success by providing reliable firearms to the agency. Ruger's P95 pistols have developed a legendary reputation for strength, reliability, and value, and we are proud to have won the Bureau's competitive bid with these fine firearms."
"Our late founder, William B. Ruger, Sr., began his firearms career designing small arms for the U.S. government, and he would be pleased that we continue following in that legacy," said Ruger President Stephen L. Sanetti.
The Ruger pistols to be supplied under this contract will be manufactured in the company's Prescott, Arizona manufacturing facility over the next five years.
About Sturm, Ruger & Co., Inc.
Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. The only full-line manufacturer of American-made firearms, Ruger offers consumers over 400 variations of more than 30 product lines. For more than 60 years, Ruger has been a model of corporate and community responsibility. Our motto, "Arms Makers for Responsible Citizens®," echoes the importance of these principles as we work hard to deliver quality and innovative firearms.
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
Sturm, Ruger & Co., Inc. “Arms Makers for Responsible Citizens®”