The defence company Nioa made an announcement on 17 January that it had completed an acquisition of the American firm Barrett Firearms. No details on the financial ins and outs of the 100% takeover have been revealed, but Barrett is famous for its long-range and large-calibre rifles.
Barrett Firearms will continue to function under its own name, but will become a distinct division of the Nioa Group. Barrett was founded in 1982, making it just nine years younger than Nioa.
Nioa stated in a press release: ‘All management and staff at the Murfreesboro manufacturing facility in Tennessee have been retained, and production will continue as normal.’ Not only that, but Nioa expects production there to even expand in the future.
The other divisions of the group are Nioa Australia, Nioa New Zealand and Australian Missile Corporation. There is also a joint venture known as Rheinmetall Nioa Munitions, an artillery shell forging factory in Maryborough, Queensland.
Nioa’s workforce will double in size to about 400.
This takeover is hugely significant for Nioa. Not only has it expanded its presence and penetrated the US market, but Nioa moves on from being merely a distributor of firearms to become a manufacturer in its own right.
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