Remington Rejects Navajo Nation Bid
Someone bigger must be interested but who?Wasn't it Remington with all those safeties disengaging on their rifle line in the past?
serf
https://pitchbook.com/news/articles/remington-shuts-down-500m-bid-from-navajo-nation
The Navajo Nation submitted a surprising bid to acquire Remington for between $475 million and $525 million, according to The New York Times, part of a proposal to reshape the gunmaker in a friendlier image. The Navajo proposal reportedly called for Remington to embrace police and defense contracts rather than selling its weapons to civilians, to invest in developing safer "smart guns" and to employ Navajo members to assemble Remington products.
serf
https://pitchbook.com/news/articles/remington-shuts-down-500m-bid-from-navajo-nation
The Navajo Nation submitted a surprising bid to acquire Remington for between $475 million and $525 million, according to The New York Times, part of a proposal to reshape the gunmaker in a friendlier image. The Navajo proposal reportedly called for Remington to embrace police and defense contracts rather than selling its weapons to civilians, to invest in developing safer "smart guns" and to employ Navajo members to assemble Remington products.
0
-
lot of money to put out on an idea with no facilities and no staff ready to go 0 -
If Remington has released control of the company due to bankruptcy I don't see how that's up to them, it shouldn't be their decision to make anymore but when Judges and lawyers huddle together behind closed doors it's anyones guess as to what the outcome will be [?] 0 -
If Remington had accepted this offer, it would have been the end of them as a major gun manufacturer.
The bid reportedly called for Remington to focus on LEO and Military contracts in lieu of selling to the general public. Colt took this stance for many years and when they were not getting the lions share of contracts for the DoD, they had to enter restructure as well. There are only two weapons that Remington makes that is used by LEO and DoD; the 700 rifle and the 870 shotgun. There is not enough demand within those two communities to keep them viable.
The Navajo bid also discussed discontinuing manufacture/selling of AR15 rifles. Again the most commonly sold rifle at this point in America.
Add in that they also want to push towards "smart guns". A technology that has yet to be proven and could easily malfunction at a time when you need the firearm to work.
Lastly, the requirement to employ only the Navajo people to assemble Remington products. I imagine this would mean relocation of the plants to the Navajo Nation Reservations. Poor infrastructure and high rate of alcoholism would not make for a great industrial complex or reliable workforce.0 -
quote:Originally posted by medic07
If Remington had accepted this offer, it would have been the end of them as a major gun manufacturer.
The bid reportedly called for Remington to focus on LEO and Military contracts in lieu of selling to the general public. Colt took this stance for many years and when they were not getting the lions share of contracts for the DoD, they had to enter restructure as well. There are only two weapons that Remington makes that is used by LEO and DoD; the 700 rifle and the 870 shotgun. There is not enough demand within those two communities to keep them viable.
The Navajo bid also discussed discontinuing manufacture/selling of AR15 rifles. Again the most commonly sold rifle at this point in America.
Add in that they also want to push towards "smart guns". A technology that has yet to be proven and could easily malfunction at a time when you need the firearm to work.
Lastly, the requirement to employ only the Navajo people to assemble Remington products. I imagine this would mean relocation of the plants to the Navajo Nation Reservations. Poor infrastructure and high rate of alcoholism would not make for a great industrial complex or reliable workforce.
And in some states, the development of which results in a prohibition of conventional firearms.0 -
Funny that they want a friendlier image. Police weapons are far more likely to kill people than hunting rifles and shotguns. 0 -
quote:If Remington has released control of the company due to bankruptcy...
Remington has been out of bankruptcy for months. In fact, they were only in it for two months before the reorganization was accepted.
quote:There are only two weapons that Remington makes that is used by LEO and DoD; the 700 rifle and the 870 shotgun.
Remington also has the contract for the newest sniper rifle system, the MSR:
http://www.remingtonmilitary.com/firearms/sniper%20rifles/msr.aspx
quote:There is not enough demand within those two communities to keep them viable.
This is correct and has been proven by Colt and even FN. That's why FN continues to develop projects specifically aimed at the general shooting population around the world.
The stupidity of the Navajo proposal goes as deep as the moderate liberal agenda for the U.S. Don't sell to the public, only to police and military, develop smart guns, another idiotic pipe dream because of the lack of consistent technology, and then the employment issue, a totally unrealistic goal but perfect for the Navajo Nation to believe in.
Did anyone ask where they got the 500 million dollars? Gambling and mineral rights.
Best.0 -
quote:Originally posted by medic07
If Remington had accepted this offer, it would have been the end of them as a major gun manufacturer.
The bid reportedly called for Remington to focus on LEO and Military contracts in lieu of selling to the general public. Colt took this stance for many years and when they were not getting the lions share of contracts for the DoD, they had to enter restructure as well. There are only two weapons that Remington makes that is used by LEO and DoD; the 700 rifle and the 870 shotgun. There is not enough demand within those two communities to keep them viable.
The Navajo bid also discussed discontinuing manufacture/selling of AR15 rifles. Again the most commonly sold rifle at this point in America.
Add in that they also want to push towards "smart guns". A technology that has yet to be proven and could easily malfunction at a time when you need the firearm to work.
Lastly, the requirement to employ only the Navajo people to assemble Remington products. I imagine this would mean relocation of the plants to the Navajo Nation Reservations. Poor infrastructure and high rate of alcoholism would not make for a great industrial complex or reliable workforce.
Ok then but yet they made defective rifles with the safety firing while in the off position and that's probably why they went bankrupt with all the lawyers hanging around like vultures. The Navajos being a sovereign nation might have had immunity if they bought the company from lawsuits.
serf
https://www.cnbc.com/2018/02/13/remington-bankruptcy-could-put-rifle-settlement-at-risk-attorneys-say.html
Remington bankruptcy could put rifle settlement at risk, attorneys say
Remington Outdoors announced plans to file for bankruptcy protection on Monday.
A bankruptcy filing could jeopardize a landmark class action settlement involving Remington's iconic Model 700 bolt-action rifle, according to an attorney involved in the case.
The settlement is being appealed, with a three-judge panel of the Eighth U.S. Circuit Court of Appeals scheduled to hear oral arguments Wednesday in Kansas City.0
Please sign in to leave a comment.
Comments
7 comments