Armscor to double production of firearms
Firearms and ammunition manufacturer Arms Corporation of the Philippines (Armscor) aims to double its production of firearms this year as its exports to the United States continue to be strong.
In an interview on the sidelines of the company’s 70th year celebration at the Manila Polo Club Wednesday night, Armscor chairman and CEO Demetrio R. Tuason said the firearms and ammunitions industry remains strong.
“We are going to double our production capacity of firearms and ammunitions (this year),” said Tuason. “Our products are now very big in the United States.”
Tuason said Amscor was able to corner one percent of the US firearms and ammunitions market, its primary export destination.
Tuason’s eldest son Martin Tuason, the CEO of Armscor Precision International ( API) which represents Armscor in the US, said they recently opened an ammunition loading plant in Montana, called Armscor Cartridge, Inc., a joint venture between (API) and American businessman Darren Newsom.
“The industry is growing at an extraordinary pace. The industry is now a multi-million dollar industry. We are still growing, our biggest market is the United States,” said the younger Tuason, who has been in charge of the company’s US market since 2003. “As well known as we are here in the country and in 50 other countries, we are not there yet.”
“We are increasing our manufacturing in the United States. We are now the largest producer of 1911 pistols. The US market now is infinite. We are doing 15,000 1911 pistols in the United States. Our goal this year is to reach 100,000 units for the United States alone,” he said.” For the Philippines, this will be about 40,000 units.”
Last year, Armscor was able to sell 40,000 units in the US and 35,000 in the Philippines. In the US, their supplies to the military comprise only about five percent. “The rest is commercial, for home protection. It’s the same thing here in the Philippines, we have the security guard market,” he said.
“I project the gun industry here ( Philippines) will grow at a good steady rate,” the younger Tuason said, adding that the company is also expanding its manufacturing facility in Marikina with the purchase of the adjacent lot. The expanded facility will have a new pistol production area.
As head of API, the younger Tuason created for the international market the company’s Rock Island Armory 1911 series, a line of single-action recoil operated semi-automatic pistols.
Today, Armscor distributes firearms and ammunitions to around 57 countries worldwide.
Armscor, which is 100 percent family-owned, has the following subsidiaries: Armscor Shooting Center, Inc. Squires Bingham Co. Inc., Precision Foundry of the Philippines, and Armscor Precision International.