Cash strapped Aussie company to unveil 800 grams shotguns

May 20th, 2009 - 5:19 pm ICT by ANI  

Sydney, May 20 (ANI): An Australian weapon developer company, which could be sold off to foreign interest due to a cash crunch, is all set to launch an 800 grams shotgun this week.

Metal Storm Ltd will unveil the MAUL weapon - a lightweight 12-gauge shotgun - at a small arms symposium in Las Vegas.The conventional shotgun normally weighs four kilograms.The low weight of the Metal Storm shotgun makes it attractive to the military, security and law enforcement industries, the company says, reports.”We think we have set the bar for a five-shot semi-automatic shotgun. The MAUL was conceived with a great deal of influence from the US operational community,” said Peter Faulkner, General Manager of Metal Storm Incorporated (US arm of the company).The battery-powered shotgun has been designed for use as a door breacher and less lethal force missions, functions that usually require two weapons.”The MAUL is a disruptive technology that will forever change the way the small arms community thinks about how and when to use a shotgun,” Metal Storm CEO Dr Lee Finniear said.There are speculation doing round that the company could be sold off to foreign interests.At the company’s annual general meeting in Brisbane last week, Dr Finniear called for financial help from the Australian Government and shareholders.The meeting was told that the company risked running out of money at the end of August unless it could secure 30 million dollars cash injection.”I would say there’s a risk the company could be owned by foreign interests,” Dr Finniear said.”I’m also hopeful, but not confident, that the Australian Government will recognise the potential of Metal Storm in time for it to provide assistance,” he added. (ANI)

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