KRISS Arms Group Announces the Acquisition of Sphinx, a World Leader in Premier-Quality Pistols, With the Objective of Consolidating and International Promotion of the Swiss Small Arms Industry

NYON and MATTEN, Switzerland, November 9, 2010 /PRNewswire/ -- KRISS Arms, the Swiss global leader in firearms innovation, announces the acquisition of Sphinx Systems Ltd, world leader in high-quality pistol production.

Founded in 1876, Sphinx has a world-wide reputation as the benchmark for precision pistols. Manufactured and assembled in Matten/Interlaken, Switzerland, Sphinx products are used by military and law enforcement units in Switzerland and abroad. In the commercial market, Sphinx pistols are valued by competitive shooters.

As noted by the international trade press and media, the patented KRISS systems have revolutionized traditional firearms engineering. By eliminating almost all felt recoil and muzzle climb, the Kriss system ensures a greater degree of control by the shooter. Kriss's patented technology makes it possible to build significantly lighter, more powerful and more accurate weapons in both pistol and rifle calibers.

Joint development and production will enable the two entities to introduce innovative products in the small arms field and position themselves in both local and international government tenders. "We are very excited to become part of the KRISS Arms Group and to rely on a strong partner, marrying the best of traditional firearms manufacturing with the innovation, as symbolized by the revolutionary patented KRISS Recoil Mitigation Systems," said Armin Landolt, CEO of Sphinx Systems Ltd.

The acquisition of Sphinx is part of Kriss Arms's strategy to safeguard Switzerland's respected tradition of technology and know-how in the small arms field. "We are pleased to be the initiators of the consolidation of the Swiss small arms industry through the prestigious Sphinx brand. Preserving the Swiss know-how, and state-of-the art technology are crucial aspects to position us as leading players on the international small arms market," said Christophe Guignard, Director of Marketing of KRISS Arms.

The first products from this consolidation will be showcased early 2011, including models and accessories specifically built for military and law enforcement and new commercial lines for the U.S. market.

The expansion of production and sales components will result in expanded employment positions in Switzerland.

    For further information:
    Sphinx Systems AG : http://www.sphinxarms.com
    KRISS Systems SA : http://www.kriss-arms.com

    Contact:

    Christophe Guignard
    KRISS Systems SA
    Tel.: +41-22-363-78-20
    E-mail: [email protected]

SOURCE KRISS Systems SA