| Type | Private |
|---|---|
| Industry | Defense |
| Founded | 1985 |
| Headquarters | Scarborough, Ontario, Canada |
| Key people | President Thanos Polyzos |
| Products | Firearms |
| Employees | ~ (65) |
| Website |
Canada: www.paraord.com USA: http://www.para-usa.com/ |
Para-Ordnance, is a Canadian firearms manufacturer founded in Toronto in 1985 by two childhood friends, Ted Szabo and Thanos Polyzos. Szabo was born in Hungary and his family fled the country when the Russians invaded during the Hungarian Revolution in 1956.[1] Polyzos was born in Greece and later immigrated to Canada.[2]
Para-ordance has a factory in Scarborough, Ontario, Canada. The company is estimated to have an annual revenue of over $10 million dollars and employs a staff of 60.[3]
The company originally started out as manufacturing sub-machine gun paintball guns, but under the direction of CEO Ted Szabo the company soon transited to the manufacturing of handguns.[4]
On March 28, 2007 Ted Szabo died at the age of 60. The company is now run by Polyzos.[5]
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In Jan 2009, it was announced that the U.S. headquarters for Para-ordance U.S. subsidiary (Para USA) would be set-up in Pineville, North Carolina.
Para-Ordnance is the originator of the high magazine capacity M1911 style pistol. Para-Ordnance offers a wide range of products for the law enforcement, military, and civilian markets. The company has created a true double-stack 1911 pistol, in addition to single- and double-stack pistols in .45 ACP, .40 S&W, 9mm, and .38 super calibers. Para pistols have found a variety of uses, including competition, law enforcement, concealed carry, and general barrier shooting. In 2009, Para-ordnance announced the TTR "Tactical Target Rifle", which features a delayed gas blowback system, dubbed DIGS, over the barrel which lessens recoil when compared with a traditional gas system. The TTR also relocated the recoil spring assembly over the barrel and under the handguard, allowing it to have a true folding stock.[6]
Para Ordnance was also the manufacturer of the first double action only 1911-style pistol. The introduction of the LDA (Light Double Action) allowed Law Enforcement agencies to use 1911-style pistols while still addressing the perceived liability issues of a single action pistol.
In recent years Para-Ordnance competes with companies such as Smith & Wesson, Springfield Armory, Inc., and Kimber Manufacturing.