|Fate||All assets sold off|
Number of locations
|Anthony Acitelli, CEO|
|Products||Firearms, ammunition and accessories|
|Revenue||US$950 million (2004)|
|Parent||Remington Outdoor Company|
Remington Arms Company, LLC was an American manufacturer of firearms and ammunition, now defunct. Founded in 1816 by Eliphalet Remington (as E. Remington and Sons) in Ilion, New York, it was one of the oldest gun makers in the US and claimed to be the oldest factory in the US that still made its original product. The company was the largest rifle manufacturer in North America according to 2015 ATF statistics. The company developed or adopted more cartridges than any other gun maker or ammunition manufacturer in the world.
Until 2015, Remington Arms was part of the Freedom Group, which was owned by Cerberus Capital Management. In 2014, a new plant was built in Huntsville, Alabama to produce AR-15 style semi-automatic rifles and Remington 1911 R1 pistols. In 2015, the Freedom Group was renamed as Remington Outdoor Company.
Remington filed for Chapter 11 bankruptcy protection in March 2018, having accumulated over $950 million in debt. Remington exited bankruptcy in May 2018, less than two months after filing for protection under Chapter 11 laws, and its quick exit from bankruptcy was due to a pre-approved restructuring plan that was supported by 97% of its crors.
On July 28, 2020, Remington filed again for Chapter 11 bankruptcy protection, and its assets were divided up and sold to various buyers. The Remington brand name was bought by Vista Outdoor, which uses it to market several types of ammunition.
The Remington company was founded in 1816. Eliphalet Remington II (1793–1861) believed he could build a better gun than he could buy. Remington began designing and building a flintlock rifle for himself. At age 23 (in late 1816), he entered a shooting match; though he finished second, his well-made gun impressed other contestants. Before Remington left the field that day, he had received so many orders from other competitors that he had officially entered the gunsmithing business. By 1828, he moved his operation to nearby Ilion. This site is still used by the modern Remington firearms plant.
On March 7, 1888, ownership of E. Remington & Sons was sold by the Remington family to new owners, Marcellus Hartley and Partners. This consisted of Hartley and Graham of New York, New York, a major sporting goods chain who also owned the Union Metallic Cartridge Company in Bridgeport and the Winchester Repeating Arms Company of New Haven, both in Connecticut. At this time the name was formally changed to the Remington Arms Company.
In 1912, Remington and Union Metallic Cartridge Company were combined into a single entity, called Remington UMC. In the early 21st century, Remington still produces U.M.C. brand ammunition. In 1915, the plant at Ilion was expanded, and with this expansion became basically the same plant as today.
During the early years of World War I, Remington produced arms under contract for several Allied powers. Remington produced M1907-15 Berthier rifles for France, Pattern 1914 Enfield rifles for Britain, and Model 1891 Mosin–Nagant rifles for Imperial Russia. As the war intensified, Remington production rose to meet demand.
When the US entered the war, Remington became deeply involved in the war effort. Remington developed and produced the US M1917 Enfield rifle, a simplified version of the British Pattern 1914, and also developed the Pedersen device. Between 1918 and 1919, Remington produced roughly 21,000 M1911 for the war effort.
Remington was left with huge stocks of guns and ammunition, and no prospects for payment. The US government purchased the firearms.
During the Great Depression, Remington was purchased by DuPont, which had made its name with improvements to gunpowder. A year later, Remington purchased the Peters Cartridge Company; today, many of the Remington headstamps still have "R-P" on them for Remington-Peters.
In 1940, the US Army became worried about its ammunition capacity and asked Remington to collaborate on a plan for national expansion. With the aid of DuPont, Remington built the Lake City Army Ammunition Plant (originally named Lake City Arsenal) and Denver Ordnance ammunition plants, and three more plants later on, including the Lowell Ordnance Plant. Though the plants belonged to the US government, Remington was asked to oversee their operation. Among the weapons Remington manufactured for the government during World War II was the famous M1903A3 Springfield bolt-action rifle.
In 1962, Remington introduced the Model 700 bolt-action rifle. The rifle became one of Remington's most successful firearms, and quickly lent itself to developments of many sub-variants, including the Remington 700 BDL, Remington 700PSS for police and law enforcement agencies (the rifle, later renamed 700P, is very popular among law enforcement agencies) and the military M24 SWS, which was the United States Army standard sniper rifle between 1988 and 2010. It is still used by other armed forces around the world, such as the IDF. Other firearms companies designed and manufactured sniper rifles based on the reliable and accurate Remington Model 700 action.
In 1986, Remington closed its ammunition plant in Bridgeport, Connecticut, transferring operations to a new facility in Lonoke, Arkansas. A year later, Remington built a new clay targets plant in Athens, Georgia. According to an article in The New York Times, in 1993, Remington's parent company—DuPont de Nemours & Company (DuPont)—sold Remington to the New York investment firm Clayton, Dubilier & Rice (CD&R) for $300 million. The Times, citing the National Sporting Goods Manufacturers Association said that "rifle and shotgun sales totaled $900 million" in 1992. Citing the National Shooting Sports Foundation president, the article said that since 1986, "interest in hunting" had "declined". The sale of long guns—which represented 75% of Remington sales has become "slack" by 1993, while the sale of handguns had become the "fastest-growing segment" of the gun industry.
In June 2007, a private equity firm, Cerberus Capital Management, acquired Remington Arms for $370 million, including $252 million in assumed debt. Remington was millions of dollars in debt and did not report a profit during the years 2003–2005.
In December 2007, Remington Arms acquired rifle-maker Marlin Firearms. As of 2009, ammunition sales continued to remain high during the ongoing United States Ammunition Shortage. Chief Executive Officer Ted Torbeck said that consumer concerns over future restrictions, and taxes on ammunition and firearms by the Obama administrations, were creating a rise in demand.
In October 2009, Remington Military products acquired suppressor manufacturer Advanced Armament Corporation. In 2010, Remington introduced the fastest commercially available shotgun shell, Hypersonic Steel, with a patented wad technology that allows the shot to travel at 1,700 ft/s (520 m/s).
After a 12-year absence in the handgun market, Remington announced the Model 1911 R1. It had ceased production in 1998 of its last handgun, the Model XP-100R. Later that year, Remington introduced the Versa Max auto-loading shotgun. Its patented "Versa Port" system self-regulates gas pressure based on the length of the cartridge used, enabling the shotgun to shoot light 2+3⁄4 in (70 mm) target loads, 3 in (76 mm) hunting loads, and 3+1⁄2 in (89 mm) magnum hunting loads.
In 2012, Remington won the US Army contract to manufacture 24,000 M4A1 carbines at $673 per unit worth $16,163,252 total.
In 2013, Remington introduced the Model 783 bolt-action rifle.
In 2013, for the first time since 1928, Remington began to offer an air rifle, called the "Remington Express".
Beginning in late 2017, Remington began bankruptcy planning, having suffered declining sales and reputation damage from an August 2017 exposé on the CBS news program “60 Minutes” about X-Mark Pro trigger defects linked to several deaths, and amassed some $950 million worth of debt. The low sales and debt were blamed on either a reduction in "panic-buying", or diminishing quality and reputation. Remington filed for bankruptcy in March 2018. Remington exited bankruptcy on May 17, 2018, less than two months later. The company's quick exit was due to a pre-approved restructuring plan supported by 97% of its crors, which cancelled all shares of common stock issued prior to the commencement of the bankruptcy proceedings, and issuance of new shares to convert over $775 million of company debt into equity.
The families of nine victims and a teacher who were shot and survived in the 2012 Sandy Hook Elementary School shooting, in which 20-year-old Adam Lanza fatally shot 20 children and six adult staff with a Remington AR-15 style rifle, filed a wrongful death lawsuit against Remington, a firearms wholesaler, and a firearms dealer, seeking a jury trial to recover unspecified damages. In 2016, the suit was dismissed by the Connecticut State Superior Court citing the immunity provided to firearms manufacturers by the federal Protection of Lawful Commerce in Arms Act (PLCAA) of 2005. The suit was delayed by Remington's bankruptcy. On March 14, 2019 the Connecticut Supreme Court ruled in a 4-3 ruling that the suit's wrongful marketing claim could proceed under Connecticut's Unfair Trade Practices Law and was not preempted by the PLCAA. The Connecticut Supreme Court decision was "a significant development in the long-running battle between gun control advocates and the gun lobby" according to The New York Times and "groundbreaking" according to The Washington Post. The Supreme Court declined to hear the case.
On July 28, 2020, it filed again for Chapter 11 bankruptcy protection. During the bankruptcy auction in September 2020, Remington Outdoor Company was sold in parts. The Remington Arms business and the non-Marlin firearms business was sold to Roundhill Group LLC. Remington's ammunition business, brand name and trademarks were sold to Vista Outdoor.
On February 17, 2014, Remington announced a plan to build a new state-of-the-art plant in Huntsville, Alabama. Remington decided to move two production lines from the Ilion, New York plant as a result of the fallout from the NY SAFE Act, which restricted gun ownership in response to the Sandy Hook Elementary School shooting. AR-15 style semi-automatic rifles from Bushmaster, DPMS, and Remington Remington R-15 and 1911 style R-1 pistols were produced in the plant. The plant was touted by Alabama's Department of Commerce Secretary and by Remington as a boon to Alabama's economy. The new plant consolidated Remington's production to promote efficiency and lower production costs. Experts in the gun industry believed that Remington would eventually leave its New York roots to have its plants in states that were more gun-friendly.
All Remington's ammunition is made at the 35-year-old plant in Lonoke, Arkansas.
The Bushmaster AR-15 style rifle and 1911 pattern R-1 lines from Ilion, New York, were produced at a plant constructed in 2014 in Huntsville, Alabama. DPMS Panther Arms moved from St. Cloud, MN to the new Alabama facility.
Remington's former ammunition factory in Bridgeport, Connecticut, was investigated by the Travel Channel's, Ghost Adventures in 2009. The site was eventually purchased by Peter DiNardo Enterprises Inc. and is scheduled for demolition.
Based on a list from the Remington web site.