Colt Firearms Up for Sale: Colt Firearms,...

Colt Firearms Up for Sale: Colt Firearms, maker of the gun that won the West, was put on the auction block, but the company’s parent denied that a three-year struggle with striking workers prompted the decision. “It’s a going business and it’s profitable, and, of course, it has a history of quality products,” said Michael G. Dunn, a spokesman for Colt Firearms’ parent, Colt Industries. Dunn said senior officials at New York-based Colt Industries decided to sell the firearms division so they could concentrate on the company’s aerospace, automotive and industrial service operations. A continuing strike and the recent loss of a contract to produce M-16 rifles for the military didn’t prompt the action, he added.