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NH – INDUSTRY INSIDER – No, SIG Sauer Is Not Bankrupt; Gun Sales Are Booming

There are a number of outlets that are claiming SIG Sauer is bankrupt, which couldn’t be further from the truth. SIG Sauer and other gun manufacturers represent a booming business across the world. Sales of personal firearms have increased sharply as international economic uncertainty due to COVID-19 restrictions and violent protests in the U.S. continue. Despite growing sales and demand for manufacturing, SIG announced it will shutter its nearly 70-year-old factory at Eckernförde near Kiel, capital of Germany’s state of Schleswig-Holstein, cutting some 125 jobs and possibly canceling future purchase orders. SIG attributed “locational handicaps” for its production woes in Germany. But the more we dig into the matter; the more anti-gun and anti-military politics appear to be at fault, even though Germany remains a hot market for gun sales. SIG Sauer has famously supplied police forces across Germany with its P-series sidearms and has more recently become a major client for the German military, the Bundeswehr. But according to SIG, its historically close relationship with German forces is now in jeopardy. SIG said in a statement that, “When awarding public contracts, both the German police and the Bundeswehr prefer a few local producers. SIG Sauer is systematically excluded from tenders due to its international orientation, most of its developments [manufacturing] originating from the USA.”  [full article]

 

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