Savage Arms in Westfield sold to defense giant ATK
WESTFIELD -- Defense contractor ATK, also known as Alliant Techsystems, announced Monday it has entered into an agreement to acquire Savage Sports Corporation in Westfield For $315 million.
Savage has 700 employees including 400 at its Westfield plant and headquarters. It calls itself is one of the world's largest manufacturers of hunting rifles and shotguns.
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Savage sold 645,000 firearms last year, mostly bolt-action rifles. That is a third of the total market for traditional firearms.