Kriss unaffected by parent company’s financial troubles
Kriss carbines ready for testing at a demonstration. (Photo: Kriss/Facebook)
Kriss Group SA filed for bankruptcy protections in its home country of Switzerland, but the financial troubles overseas won’t affect the company’s U.S. operations, a company spokesman told Guns.com on Tuesday.
“The reorganization that is happening in Switzerland has no affect on us here in the U.S. as we are financially independent and operate independently of our Swiss sister companies,” said Tim Seargeant, marketing manager for Kriss USA, in an email.
Kriss Group is comprised of Sphinx Systems AG, Kriss International AG, and Kriss Systems AG, which are all located in Switzerland. Their current operations were dependent on a $60 million contract with a foreign government, but the contract was cancelled. In turn, the business was left unsustainable and they were forced to initiate Chapter 11 for reorganization.
“(The companies) have experienced a progressive market reduction due to export regulation changes and foreign policy restrictions from Switzerland,” Seargeant said.
Financial troubles for the company have been ongoing, according to a Swiss media. Sphinx declared bankruptcy last November causing the other two companies to enter a provisional debt restructuring moratorium, which ends June 29.
As for Kriss USA, which operates out of Virginia, the company has “experienced a strong and steady growth in the commercial market segment,” Seargeant said, adding that business activities previously managed in Switzerland will be centralized by Kriss USA.
According to the 2014 Firearms Manufacturing and Exporting Report by federal regulators, Kriss USA has manufactured more than 24,500 guns in the U.S. The majority of which — 22,301 handguns and 195 rifles — were exported out of the country.
The post Kriss unaffected by parent company’s financial troubles appeared first on Guns.com.
Source: http://www.guns.com/2016/04/26/kriss-unaffected-by-parent-companys-bankruptcy/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,647,295 |
| Stories: | 8,450,881 |
Whistler Blowers, Insiders
