State Aids Colt Buyout: The state of...
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From Times Staff and Wire Reports
State Aids Colt Buyout: The state of Connecticut joined with striking workers, managers and private investors to buy the firearms division of Colt Industries, giving the 154-year-old gun maker new life after a bitter, four-year strike. State Treasurer Francisco L. Borges said the state would put up $25 million from pension funds for a 47% stake in a newly created company to be called Colt’s Manufacturing Co.
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