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 Model 586 Other manufacturers have used transfer bar system in their revolvers. Many Smith and Wesson purists felt betrayed with what they feel is an unwarranted change. The 586 was discontinued in 1991. After a 13-year absence, Smith & Wesson reintroduced the 586 in 2012 with the aforementioned safety modifications. It is currently produced with 4-in. and 6-in. barrel lengths as part of its Classic line of revolvers. The 586-8 features a redesigned and improved yoke. In 1987, seven years after the release of the Model 586, there were reports of cylinder binding with some types of standard .357 Magnum ammunition for