Remington
What is the current status of the plant in Ilion, NY? Have any operations moved to Alabama yet?
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Was remington bought out this last week. Guy at the local gun shop said bushmaster bought them????? 0 -
dropped by the local pawn shop the other day and a dang Remington 12 ga Wingmaster followed me home [}:)][:D]
ill post some pics when I think to take some [B)][:D]0 -
Heres the Rem 1100 I picked up on Saturday, really dont care much for Autos but the price was right.[:D] 
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What is the fate today of the plant at Ilion, NY? 0 -
While I read several comments regarding the quality and function of present production Remington Rifles, for a glimpse of what once was I offer a rifle made in 1935 chambered in 257 Roberts, with Zeiss Zielvier 4x scope (also 1935 production). It weighs in at 9 lb 11 oz so won't qualify for any portability award and most see the Winchesters as prettier, but for a well built, endure any hardship and put the better quality bullets right where you aim them, this Model 30S fits the bill. 0 -
Need a bit of help.
I guess I'm not smart enuff to
date my rifle.
left side of the barrel next to the
receiver is stamped " u EI (or 1)30
Serial no is A6370523.
Thank you
Ron0 -
The $370 million acquisition of historic Remington Arms by a New York City-based private-equity firm has left this upstate community feeling somewhat unsettled _ but also hopeful for a better future.
The 191-year-old gun maker was purchased Thursday by Cerberus Capital Management. Cerberus is buying Remington for about $118 million and taking on its $252 million in debt.
While Cerberus officials said they saw "tremendous value" in Remington, they indicated little else about the direction they will take the company, which is one of the two largest gunmakers in the United States. The sale is expected to be completed in June.
"I don't anticipate any negative impact from the sale," said state Sen. James Seward. "In fact, once the dust settles a little bit here, we intend to reach out to the top people at Remington and their new owners and talk about ways we can have an expanded role here at the Ilion plant."
But that doesn't mean there won't be some worrying involved, said Assemblyman Marc Butler.
"Anything that affects Remington Arms, which is the backbone of our local economy, is very unsettling," he said.
The company was founded in Ilion in 1816 by Eliphalet Remington. The privately held company is now based in Madison, N.C. and employs 2,500 at several locations, including the plant in Ilion with 1,000 employees. The company makes rifles, shotguns and ammunition, but not handguns.
After several years of slumping earnings, Remington posted profits of $107.6 million last year on sales totaling $446 million, a nearly 9 percent jump from 2005, said Remington Chief Executive Officer Tommy Millner.
Remington's sale to Cerberus is an acknowledgment of Remington's strong brand name and tradition, Millner said.
"We see this sponsorship as an opportunity to enhance our production capabilities and product offering and further our growth both domestically and internationally," he said.
The U.S. firearms industry includes about 200 companies in a $2 billion annual market. American manufacturers are challenged by increased federal regulations, lawsuits and imports taking on a larger share of the business, according to analysts.
Cerberus has assured Remington that no staff cuts are planned, Remington spokesman Al Russo said.
"It's just a change in ownership," he said. "Right now, there is no anticipated change in employment for anybody."
Nevertheless, Cerberus has made tens of billions of dollars worth of corporate acquisitions in recent years, earning a reputation for taking troubled firms and reworking them into profitability. Those changes have often involved layoffs and the sale of some assets.
News of the new ownership circulated quickly in the community Thursday, and workers, business owners and residents worried about the future of one of Herkimer County's largest employers.
"It would be like a ghost town if they were gone," said John Lombardo, who owns a pizza shop near the plant.
Many employees were not surprised by the sale, said Stephen Brown of Ilion, who has worked at the factory for 12 years.
"We knew that there were some people looking at it," he said. "There were a lot of rumors."
But now workers are trying to fathom what it might mean for them.
Thirty-four-year employee Steve Winslow said he would have to leave the area if he lost his job.
"There's nothing else around here," he said. "Of course everybody is worried."
Meanwhile, officials in Oneida and Herkimer counties will have to work together to protect against any setbacks stemming from the sale, said Oneida County Executive Anthony Picente.
"I really hope that it means a positive and not anything less for the area," Picente said.
The plant has survived rumors of closing dating back a decade or more.
In 1998, a state-funded aid package helped the Ilion plant modernize amid union concerns that Remington Arms planned to shift production to Elizabethtown, Ky.0 -
Here's my two cent on Cerberus. They are a bunch of idiots.
My only experience was watching them be the last owners of Anchor Glass Container Corp, the competition to my employer. Cerberus bought the company in bankruptcy. Invested a lot in Plant Property and Equipment. Took the company public. Anchor never made a profit once they were publics. Lost every quarter! Finally Anchor went bankrupt again. I think Cerberus lost there shirt, but anyone who bought the stock from the IPO on definitely lost.
Anchor should have been a winner. They dumped the hourly pension on the federal government at bankrupcy when they bought it. Anchor also did not have the big asbestos lawsuits their competition has. So with no pension liability and no class action lawsuits to pay for, Anchor should have been in a great position ot compete for the glass bottle business.
The biggest problem was Cerberus and their management team did not understand pricing, costs, and locking in prices of natural gas on the futures market. According to Bank of America Anchor got the SNapple contract but were ultimately selling the bottles for less than their cost. Anchor got a big contract for 1/3 of Budweiser's business then had to go back in less than a year after bankruptcy and ask for the contract to be torn up because they need more money. Oops.
Bud basically had to do it. There are only three manufacturers in North America for glass bottles. If they said no, Anchor would close it's doors and Bud would not have a supplier. The lowest priced manufacturer would be out of business and Bud would have to pay a lot more.
Anchor also did not forward contract their natural gas usage on the futures market. A couple of years ago there was a huge spike in the winter. Anchor's sales contracts were based on the price of natural gas remaining constant. Anchor lost their shorts!
All of this happened under Cerberus management. Cewrberus was the mythical three headed dog that guards the gates of Hades. That dog was liking it's own but with Anchor. They did not know the industry.0 -
Hopefully some good things will evolve from this change.[:)] 0 -
I worked for DuPont most of my life and was called a traitor because I never had a Remington arm. So I finally bought a couple of Remingtons and now they've changed hands. Do yo suppose it'll affect parts supply?[:)] Seriosly, if I worked for Remington now, I'd grab my butt. 0 -
Cerberus and other Capital Management companies buy's companies only to "restructure" them and sell them off. Sometimes they divide the company up and sell it off piece by piece. I don't think Remington is diversified enough to part it out. That pump .223 that takes an AR clip is stupid.
There is potential for improvement.
I still think Remington should make an AR with an AK gas system.
Remington name brand + AR customer demand + AK Gas System = WINNER0 -
Cerberus also owns Bushmaster . . . 0 -
quote:Originally posted by DarkStar11
Cerberus also owns Bushmaster . . .
REALLY?!?!?!? That would make an interesting merger.0
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