The U.S. Army has cut Smith & Wesson from its competition to replace the Beretta M9 as its standard-issue sidearm.
The Army’s hunt for a company that can make its upcoming Modular Handgun System by 2018 has been narrowed down to just a few gun makers, such as Glock and Sig Sauer.
The Pentagon told Smith & Wesson and partner General Dynamics of its decision late Friday.
“We and our partner in the pursuit of the U.S. Army’s Modular Handgun System, or MHS, solicitation to replace the M9 standard Army sidearm have been notified by the Department of the Army that our proposal was not selected to advance to the next phase of the competition,” Smith & Wesson said in a filing with the Securities and Exchange Commission, Fox Business reported Monday.
The winning proposal, which is expected to be announced August 2017, will result in a contract for roughly 500,000 pistols.
Smith & Wesson stock fell 7.8% to $25.41 on Monday morning, Fox Business reported.