If S&W buys the factory, they won't be making Winchesters. Winchesters will probably continue to be made by FN, either at FN factories or Browning factories (they also own Browning. That could be in US, Japan or Europe.
IMHO, S&W would be stupid to buy a gun factory in an anti arms rights and anti gun state run by union controlled politicritters. They should buy the tools and equipment, move 'em to Texas or Arizona or even Nebraska or Montana.
Texas. Yep!