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Gun-maker Colt is suspending its production of rifles for the civilian market including the popular AR-15, the company said Thursday in a shift it attributed to changes in consumer demand and a market already saturated with similar weapons.
The company said it will focus instead on fulfilling contracts with military and police customers for rifles.
"The fact of the matter is that over the last few years, the market for modern sporting rifles has experienced significant excess manufacturing capacity," Colt's CEO, Dennis Veilleux, said in a written statement. "Given this level of manufacturing capacity, we believe there is adequate supply for modern sporting rifles for the foreseeable future."