was acquired by the French government-owned defense contractor giant GIAT Industries in late 1990.
He said that during the 10- to 12-year period prior to GIAT stepping in, "There was just no money available for investment in new products.
January 1991, GIAT acquired Fabrique Nationale (FN), the parent company of Browning.
Two of the strongest brand names in the world, Browning and Winchester, being complementary and compatible, made GIAT the world leader in guns.
When GIAT offered me the job of heading Winchester and Browning U.
GIAT committed to an investment of $18 million, not counting construction of the new building.