Dropped everything against Traditions and now apparently they are going to be working together... Didn't see that coming.
James Debney, President and CEO of Smith & Wesson Holding Corporation. "We look forward to working with Traditions to bring the highest quality and most advanced muzzleloading rifles to the market."
Can't read the link, but it sounds like T/C is going to be one of those companies I can soon say, "I can remember back when they made good guns" about.
Can't read the link, but it sounds like T/C is going to be one of those companies I can soon say, "I can remember back when they made good guns" about.
That was my thought as well. I wonder if TC muzzleloaders are going to be running Traditions parts/barrels etc....in the future?
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"Never stand and take a charge...charge them too."
Hold on. This is a settlement of a patent infringment lawsuit.
"Under the terms of the agreement, Traditions and Ardesa have agreed to a multi-year license agreement, allowing them to use certain Thompson/Center Arms muzzleloader rifle technology. In exchange, Smith & Wesson has agreed to dismiss all infringement claims asserted in the complaints. Further details and financial terms of the settlement are not being made available."
S&W/TC says:
"We look forward to working with Traditions to bring the highest quality and most advanced muzzleloading rifles to the market."
Ardesa/Traditions says:
"Traditions and Ardesa join with Thompson/Center Arms in looking forward to bringing the highest quality muzzleloading rifles to the market,"
Does this mean that they are going into business together or does it simply mean that they settled a lawsuit with Traditions paying T/C for the continued use of some of its designs/patents?
SPRINGFIELD, Mass., Nov. 29, 2011 -- /PRNewswire/ -- Smith & Wesson Holding Corporation (NASDAQ: SWHC) and its Thompson/Center Arms business ("Smith & Wesson"), Traditions Sporting Goods, Inc. ("Traditions"), and Ardesa S.A. d/b/a Ardesa Firearms ("Ardesa"), announced today that they have reached an agreement to settle patent infringement complaints brought by Smith & Wesson in the U.S. International Trade Commission (USITC) and U.S. federal court. Under the terms of the agreement, Traditions and Ardesa have agreed to a multi-year license agreement, allowing them to use certain Thompson/Center Arms muzzleloader rifle technology. In exchange, Smith & Wesson has agreed to dismiss all infringement claims asserted in the complaints. Further details and financial terms of the settlement are not being made available.
"We are always looking for ways to protect our innovative designs and technology, which are the cornerstones of our business, and key components of what our brands stand for in the eyes of the consumer," said James Debney, President and CEO of Smith & Wesson Holding Corporation. "We look forward to working with Traditions to bring the highest quality and most advanced muzzleloading rifles to the market."
"Traditions and Ardesa join with Thompson/Center Arms in looking forward to bringing the highest quality muzzleloading rifles to the market," said Tom Hall, President of Traditions. "We are pleased that the companies were able to work together in a pragmatic way to amicably resolve this litigation. Traditions will continue to sell all products in its existing product line and intends to continue its ongoing efforts to innovate in the field of muzzleloading rifles to meet market demand." About Smith & Wesson
Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC) is a U.S.-based, global provider of products and services for safety, security, protection, and sport. The company delivers a broad portfolio of firearms and related training to the military, law enforcement, and sports markets. For more information on Smith & Wesson call (800) 331-0852 or log on to www.smith-wesson.com. About Traditions & Ardesa
Traditions Performance Firearms located in Old Saybrook, CT imports, distributes, and sells top quality muzzleloading firearms and accessories. Ardesa S.A., located in Vizcaya, Spain, manufactures top quality reproductions of famous flintlock and percussion rifles and pistols, 209 primed in-line ignition rifles, and a full line of accessories, that are imported by Traditions Performance Firearms. For more information on Traditions call 860-388-4656 or log on to traditionsfirearms.com.
Liz Sharp, VP Investor RelationsSmith & Wesson Holding Corp.(480) 949-9700 x. 115lsharp@smith-wesson.com
SOURCE Smith & Wesson
Quote:
a multi-year license agreement
I read that Traditions is paying for 'what it borrowed'.
Kind of like how Uncle Sam payed Mauser for 7 patents it 'borrowed' for the Springfield.
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Mit pulver und blei, die gedanken sind frei!
Dropped everything against Traditions and now apparently they are going to be working together... Didn't see that coming.
James Debney, President and CEO of Smith & Wesson Holding Corporation. "We look forward to working with Traditions to bring the highest quality and most advanced muzzleloading rifles to the market."
Bottom line is traditions was going to lose the suit and made an agreement lol. what you have to understand is, if they fought and lost it would bankrupt them!in the end T/C will most likely end up owning them!
builder459
I hope not, but it could happened, I expect if that happens they will shut them down. Competition is good for the market and even though they had very poor quality to start they have been improving with the settlement they made they will be able to legally use many of TC's pattens, so perhaps they will do better even after they pay the settlement.
Perhaps CVA and their copycating is next.
That's good for S&W and TC!
This was a settlement that included a number of patent infringements that were alleged by TC including the QLA projectile alignment system and a removable breech plug. This is a victory for a U.S. company that had patent protection.
The patent infringements that TC claimed are mentioned here:
Quote:
According to the complaint, the asserted patents “relate to a firing mechanism, barrel, and structural components used to close the rear of the barrel of long guns and pistols.” Specifically, the ‘781 patent “is directed to a muzzle-loading firearm having break-open action that allows access to the breech plug.” The ‘694 patent “is directed to a muzzle-loading firearm having a breech plug, a barrel with an initial portion, and a deformable seal in front of a threaded engagement.” The ‘138 patent “is directed to a firearm having a hammer and a spur” and “teaches using a removable fastener to allow the spur to [be] moveable among [a] plurality of positions.” The ‘311 patent “is directed to a lever-operated muzzle-loading firearm and a method of discharging a muzzle-loaded firearm having a barrel with a breech-end and incorporated therein a removable breech plug.” The ‘030 patent “is directed to a method for making an improved barrel for a muzzle-loading firearm” and “teaches using [a] tool to enlarge the muzzle end of the barrel to provide a smooth muzzle end that is slightly larger than the rifled section of the barrel.” The ‘981 patent “is directed to an improved barrel for [ ] muzzle-loading firearms.”
TC/ Traditions team up?
