Smith & Wesson Holding Corp Wants to Change Its Name to …

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Smith & Wesson Holding Corp (NASDAQ:SWHC) has announced plans to change its name.

Smith & Wesson Holding CorpThe company — which is the country’s largest gun maker — is asking shareholders to approve the new name of its holding company, which will be American Outdoor Brands Corp.

Smith & Wesson was owned by Tomkins PLC until Saf-T-Hammer Corp. acquired it. “We believe the new name really better reflects our many brands and products and our growth strategy,” a spokeswoman said. The company would change its ticker symbol to AOBC from SWHC.

Additionally, CEO James Debney believes the move will help the company diversify into a larger market of recreational product. A new acquisition of tools will come with the new name, including hunting knives, flashlights and camping equipment.

Debney told investors last January that the company may be looking to create three new divisions for outdoor products that will exist alongside current operations. The name will be brought into action following a meeting by shareholders that will take place next month.

The board has already given the OK for the name change, but shareholders have yet to agree on the matter.

The name Smith & Wesson will remain for its best-selling handguns.

The U.S. outdoor equipment market is worth about $60 billion a year, making the prospect of entering such a market very enticing for a company such as this one.

SWHC shares rose 2.5% Tuesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/11/smith-wesson-holding-corp-swhc-2/.

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