Smith & Wesson plant in Houlton dodges a bullet as company relocates from New England
Courtesy / Smith & Wesson
A total of 750 Smith & Wesson employees, such as this one shown in a recent company report, will be affected by the relocation.
Smith & Wesson Brands Inc. (Nasdaq: SWBI), the iconic New England firearms manufacturer founded in 1852, on Thursday announced it is moving to Tennessee — but keeping the company’s Houlton operations where they are.
Smith & Wesson will relocate its Springfield, Mass., headquarters and much of its production there and in Deep River, Conn., to Maryville, Tenn., in 2023, according to a news release. A total of 750 jobs will be lost in New England.
But the company said the historic move will have “no impact” on its 44,000-square-foot manufacturing facility in Houlton, which produces handcuffs and other restraint devices and performs machining.
S&W opened the factory in 1966 and has expanded it several times since then, Mainebiz reported in 2015. At the time, the plant employed 120 people and was one of Houlton’s largest employers.
In the past, S&W did some gun-making and assembly at the plant, but it concentrates solely on the restraints and machining business today, according to the company’s 2021 annual report.
While S&W did not immediately respond to a Mainebiz inquiry, the Houlton plant’s specialty may have something to do with why it was spared in the relocation.
Smith & Wesson President and CEO Mark Smith said the move was primarily a result of legislation proposed in Massachusetts that would prohibit the company from manufacturing certain firearms there.
"These bills would prevent Smith & Wesson from manufacturing firearms that are legal in almost every state in America and that are safely used by tens of millions of law-abiding citizens every day exercising their Constitutional 2nd Amendment rights.
“While we are hopeful that this arbitrary and damaging legislation will be defeated in this session, these products made up over 60% of our revenue last year, and the unfortunate likelihood that such restrictions would be raised again led to a review of the best path forward for Smith & Wesson."
The company began in Springfield, and in addition to its headquarters operates a 575,000-square-foot plant there. It will continue some operations with about 1,000 employees. The 150,000-square-foot Deep River plant will be sold, and a distribution facility in Columbia, Mo., will be closed.
Smith & Wesson has a total of 2,200 employees, according to its annual report. The company netted revenues of $1.1 billion for the year ending April 30, the most ever, and shipped 2.6 million firearms.
Gun sales in Maine and nationwide have been soaring since the start of the pandemic, Mainebiz has reported.
In the release, Smith & Wesson said it plans to begin construction of a $120 million factory in Maryville this fall.
Most Recent
Most Recent
0 Comments