Number of locations
|Anthony Acitelli, CEO|
|Products||Firearms, ammunition, and accessories|
|Revenue||US$950 million (2004)|
Number of employees
Remington Arms Company, LLC was an American manufacturer of firearms and ammunition, and was the largest rifle manufacturer in North America according to the ATF statistics in 2015. Founded in 1816 by Eliphalet Remington in Ilion, New York as E. Remington and Sons, 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. Remington was the largest US producer of shotguns and rifles. 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 is 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 Ch. 11 laws. Remington's quick exit from bankruptcy was due to a pre-approved restructuring plan that was supported by 97% of its creditors. On 28 July 2020, it filed again for Chapter 11 bankruptcy protection, and its assets were divided and sold.
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. The Bridgeport site became the home of Remington's ammunition plant.
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.
Late in the war, the collapse of the Imperial Russian government had a severe effect on Remington finances. Russia had ordered large quantities of arms and ammunition, but ran short of money to pay for the orders. They delayed payment, arguing there were alleged defects in Remington products. When the Bolsheviks took power in the Russian Revolution, they repudiated the contract entirely.
Remington was left with huge stocks of guns and ammunition, and no prospects for payment. The US government stepped up to purchase the firearms, thereby preventing Remington from absolute loss. Remington made the conscious decision to promote and emphasize their line of civilian products. They viewed hunting products as a more stable business which might help them to survive future ups and downs generated by war demands.
During the Great Depression, Remington was purchased by the DuPont Corporation, which had made its fortune 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. This site was chosen as the geographic center of the sporting ammunition market. 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--Pont 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. It was renamed as the Freedom Group.
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 in (70 mm) target loads, 3 in (76 mm) hunting loads, and 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".
In 2015, the Freedom Group holding company was renamed as Remington Outdoor Company.
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 creditors, 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 was 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 28 July 2020, it filed again for Chapter 11 bankruptcy protection. In 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 brand and trademarks are 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 New York Safe Act, which restricted gun ownership. Huntsville is now building the AR-15 style semi-automatic rifles from Bushmaster, DPMS, and Remington Remington R-15 and 1911 style R-1 pistols in the new plant. This is considered an $87 million boom for Alabama's economy. The new plant consolidates Remington's production to promote efficiency and lower production costs. Experts in the gun industry believe that Remington will eventually leave its New York roots to have its plants in states that are more gun-friendly.
Remington had several production facilities.
The corporate headquarters for Remington Arms was located at Madison, North Carolina. Remington owned two firearms plants.[clarification needed] The larger plant was located in Ilion, New York, at the historic site. This plant was also home to Remington's Powdered Metal Products Division. A new, state-of-the-art firearms facility was recently built in Mayfield, Kentucky.
All of Remington's ammunition was made at the 35-year-old plant in Lonoke, Arkansas. This plant also was home to Remington's Industrial Products Division, and Ammunition Product Services.
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.