Smith & Wesson total purchase price to US$45 million. Saf-T-Hammer, a manufacturer of firearms locks and other safety products, purchased the company with the intention of incorporating its line of security products into all Smith & Wesson firearms in compliance with the 2000 agreement. The acquisition of Smith & Wesson was chiefly brokered by Saf-T-Hammer President Bob Scott, who had left Smith & Wesson in 1999 because of a disagreement with Tomkins’ policies. After the purchase, Scott became the president of Smith & Wesson to guide the 157-year-old company back to its former standing in the market. On February 15, 2002, the name
Smith & Wesson to a safety issue with barrels rupturing. The 916 series was discontinued, then later replaced by the Models 3000, based on an improved Remington 870 design, and 1000 intended to compete with the popular Remington Model 1100; both were produced by Howa of Japan. However, with the sale of the company to British Tomkins PLC, Smith & Wesson exited the shotgun market in the mid'80s to return to their "core" market of handguns. During the 1980s, Smith & Wesson released the S&W assault shotgun, which had full automatic capability. In November 2006, S&W announced that it would reenter the shotgun