Top bidders for Remington

[cooperhawk]

I wouldn't surprise me if Ruger simply restores the original quality. That would sell a lot of rifles right there.

[BigAl52]

Im not sure what will happen and as NCG says its pure speculation at this point. But I believe Ruger would have sold alot more single actions if they would get there machines set to bore the right size throats for shooting lead bullets. There are tons of people who have sent Ruger cylinders to people to have the throats sized for lead bullets. Many people avoid Rugers when shooting lead and buy the imports. Just makes me wonder what efforts they will make with leverguns should they come up with it.

[Ernie]

I guess I will hang on to my Marlins for a while.

[Rifletom]

Im not sure what will happen and as NCG says its pure speculation at this point. But I believe Ruger would have sold alot more single actions if they would get there machines set to bore the right size throats for shooting lead bullets. There are tons of people who have sent Ruger cylinders to people to have the throats sized for lead bullets. Many people avoid Rugers when shooting lead and buy the imports. Just makes me wonder what efforts they will make with leverguns should they come up with it.

Hmm, good points there Al.

[Vaquero]

I guess I will hang on to my Marlins for a while.

Men too, also.

RP

[PJM]

Ruger story is interesting! Newport et als plant manager lives a mile from me and is an aquaintence. Ruger foundry higher-up is a friend. Have to do some investigating! Maybe they can come up with an alternative for that 336 safety!

[GunnyGene]

Some news about this from the Huntsville Mayor about the Huntsville Remington plant:

Excerpt:

https://whnt.com/news/huntsville/huntsv ... ptcy-case/

But Mayor Battle said the city’s hope is for a viable successor to come in and provide jobs and industry for the future. City officials have been in confidential talks with potential bidders for the Remington facility.

In a news release, the city said it has informed both Remington and the bankruptcy court that it objects to any proposed sale of the facility that will not result in payment in full for the building at the sale closing of the city’s full mortgage debt or that is not otherwise acceptable to the city.

The city council is required to approve any settlement reached with Remington.

[GunnyGene]

Ruger announcement about acquiring Marlin:

https://ruger.com/corporate/marlin.html

September 30, 2020

Sturm, Ruger and Company, Inc. (NYSE: RGR) announced today that its offer to purchase substantially all of the Marlin Firearms assets was accepted by Remington Outdoor Company, Inc. and approved by the United States Bankruptcy Court for the Northern District of Alabama. The Company will pay the $30 million purchase price from cash on hand at the time of closing, which is expected to occur in October.

"The value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up," said Ruger President and CEO Chris Killoy. "The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings."

The transaction is exclusively for the Marlin Firearms assets. Remington firearms, ammunition, other Remington Outdoor brands, and all facilities and real estate are excluded from the Ruger purchase. Once the purchase is completed, the Company will begin the process of relocating the Marlin Firearms assets to existing Ruger manufacturing facilities.

"The important thing for consumers, retailers and distributors to know at this point in time," continued Killoy, "is that the Marlin brand and its great products will live on. Long Live the Lever Gun."

[JEBar]

that press release indicates production will be moved to existing Ruger facilities .... its really going to be interesting to see how all of this shakes out

[GunnyGene]

that press release indicates production will be moved to existing Ruger facilities .... its really going to be interesting to see how all of this shakes out

Digging around for more info, found this from a local news:

https://www.wktv.com/content/news/Herki ... 92581.html

Herkimer County leaders have reached out to, and are waiting to hear back from, the new owners of Remington Arms' Ilion plant. It was said during a five-hour bankruptcy sale hearing on Tuesday, that the Roundhill Group, LLC, planned to employ people in Ilion and make investments in the facility. Herkimer County can't wait to help them do that.

"Everything from mortgate recording tax, to help them with their property taxes, help them with upgrades, maybe work with them for other federal loans that are out there, too, for employment," said John Piseck, Executive Director of the Herkimer County Industrial Development Agency.

Roundhill did not buy the plant's Marlin line. It's unclear what that exclusion will mean to the people who work on that line.

"Right now, we're not sure about those 200-250 jobs with Marlin. Are they gonna be offered jobs to transer? Are people gonna not accept that?" asked Herkimer County Administrator, Jim Wallace.

A federal bankruptcy judge in Alabama on Wednesday executed the orders, approving the auction bids on Remington Outdoor Company's assets. We, at NewsChannel 2, have reached out to Remington Outdoor Company's bankruptcy attorney regarding a time frame for Roundhill Group to close on the sale. We're waiting to hear back.