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Thread: Century International Arms Employee Layoffs

  1. #1

    Century International Arms Employee Layoffs

    Century International Arms
    236 Bryce Boulevard
    Fairfax, Vermont 05454

    5 June 2014

    For Immediate Release

    Century International Arms Recent Vermont Employee Layoffs Due to Import Denial

    Century is one of the country’s largest importers of highly-collectible, historical
    firearms. It is also one of the largest employers in Franklin County, providing its
    employees and numerous vendors with high-quality manufacturing jobs.

    Century had been planning on a large importation of vintage WWII, M1 Garand
    Rifles from the South Korean government. All the normal approvals were in place
    to obtain the import permits for this sale from ATF. Century had invested considerable
    funds in seeking the approvals and financing for this transaction. It was expected that
    this nearly 30 million dollar transaction would have provided a reliable revenue stream
    to Century even during the general downturn in firearms demand in 2014. Additionally,
    the sales proceeds were going to be used by the South Korean government to purchase
    modern firearms for their defense forces.

    Unfortunately and unexpectedly, The White House intervened at the last minute and
    blocked this importation. This importation was denied despite our explaining that the
    denial would harm the company and pointing out that there is no rational, gun-control
    reason to block the importation of these historic, 70-year-old firearms.

    As a consequence of this denial, there has been a reduction in work and Century has
    had to make the difficult decision to layoff 41 Vermont employees. Nevertheless,
    Century has modernized production in several key operations areas, developed new
    products, and intensified our sales efforts in various markets. We fully expect that
    the industry-wide downturn in demand from government, law enforcement and
    consumer customers will rebound in the coming months. When that rebound
    happens, Century will be well poised to take advantage of these future growth
    opportunities and expand our workforce.

    Century is grateful for the support it has received so far from Senator Leahy and
    Governor Shumlin. And Century is still hopeful that the White House will reconsider
    its decision on the Korea sale and allow this important transaction to proceed, which
    would have a direct, positive impact on Century’s employees, Vermonters, and
    America’s gun collecting community.


    http://www.centuryarms.com/

  2. #2

    Re: Century International Arms Employee Layoffs

    And the beat goes on. Just a spoiled kid that didn't get his way and will do what ever to get back at his enemy's

    (Better to kill the economy than give into my enemy's)

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