Latest news with #Nuhs
Reuters
03-04-2025
- Business
- Reuters
Brazil gunmaker Taurus sees US plant as key to minimizing tariff hit
RIO DE JANEIRO, April 3 (Reuters) - Brazilian gunmaker Taurus Armas ( opens new tab expects its production line in the United States to help it minimize the impact of tariffs imposed on Wednesday by U.S. President Donald Trump, its chief executive Salesio Nuhs told Reuters. Taurus is one of the world's largest gun manufacturers and mainly produces handguns and small arms for both private consumers and security forces. Currently, 85% of the 7,000 weapons manufactured daily at its Brazilian factories are exported to the U.S. market, according to the executive. It has daily production capacity for another 3,000 weapons at its U.S. facilities. "We are keeping a close eye on the consequences of the tariffs," Nuhs said in an interview at the LAAD defense conference in Rio de Janeiro on Wednesday, ahead of Trump's announcement of a 10% levy on Brazilian exports to the U.S. Taurus earlier this week also announced a memorandum of understanding aimed at acquiring Turkey's Mertsav and eyes completing the deal in the second half of 2025, which would increase its product portfolio. "We will be the only company in the world to offer a diverse portfolio, from the .22 caliber to the .50," Nuhs said. "The purchase of the Turkish company could speed up our decision, which has already been made, to make the .50 (machine gun)." Taurus is also eyeing the Saudi market, the executive added, adding that it could soon sign a joint venture deal with a local company. A proposal has been submitted to the Saudi government and awaits its analysis, Nuhs said.
Yahoo
03-04-2025
- Business
- Yahoo
Brazil gunmaker Taurus sees US plant as key to minimizing tariff hit
By Rodrigo Viga Gaier RIO DE JANEIRO (Reuters) - Brazilian gunmaker Taurus Armas expects its production line in the United States to help it minimize the impact of tariffs imposed on Wednesday by U.S. President Donald Trump, its chief executive Salesio Nuhs told Reuters. Taurus is one of the world's largest gun manufacturers and mainly produces handguns and small arms for both private consumers and security forces. Currently, 85% of the 7,000 weapons manufactured daily at its Brazilian factories are exported to the U.S. market, according to the executive. It has daily production capacity for another 3,000 weapons at its U.S. facilities. "We are keeping a close eye on the consequences of the tariffs," Nuhs said in an interview at the LAAD defense conference in Rio de Janeiro on Wednesday, ahead of Trump's announcement of a 10% levy on Brazilian exports to the U.S. Taurus earlier this week also announced a memorandum of understanding aimed at acquiring Turkey's Mertsav and eyes completing the deal in the second half of 2025, which would increase its product portfolio. "We will be the only company in the world to offer a diverse portfolio, from the .22 caliber to the .50," Nuhs said. "The purchase of the Turkish company could speed up our decision, which has already been made, to make the .50 (machine gun)." Taurus is also eyeing the Saudi market, the executive added, adding that it could soon sign a joint venture deal with a local company. A proposal has been submitted to the Saudi government and awaits its analysis, Nuhs said.
