By JESSE BARRON Could one, 2019 When a secretive personal fairness firm bought Remington, sales were being sturdy and the longer term dazzling. Ten years later, the company couldn’t escape its debts.
In an car-reply e mail from the company’s press staff, the company verified that “RemArms is happy to extend our facilities in Georgia, a state that don't just welcomes business but enthusiastically supports and welcomes companies in the firearms market.”
A company obtained by non-public fairness can be expecting to get realigned aggressively, within a 5- or 10-year window, to become a lot more “effective,” which regularly involves firing, automation and offshoring. For your pension fund, then, and particularly the pension fund of a union, investing in personal fairness might be a Satan’s bargain: helping retiring workers by making use of equipment which could hurt younger types.
Kollitides spent Significantly of 2013 and 2014 zigzagging across the nation in Remington’s Piaggio turboprop. Handsome and charming, he persuaded a number of sought-just after executives to relocate to Huntsville. “George picked me up during the plane in New Hampshire,” mentioned Ginger Chandler, a previous Smith & Wesson government who served as senior vice chairman of new-solution improvement at Remington from 2014 to 2017.
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Eliphalet Remington constructed his 1st rifle barrel in excess of 200 several years in the past, painstakingly crafting it in his father’s forge check here in upstate New York. At that point, ammunition was round, the British have been the terrible men and gun Management concerned forearm power.
RemArms, which purchased the firearms small business in 2020, did not respond to e-mail and phone calls searching for remark.
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ILION, N.Y. (AP) — Remington commenced below two hundreds of years back and generations of workers have turned out rifles and shotguns at The large firearms manufacturing get more info unit in the course of this blue-collar village in the guts of Big apple’s Mohawk Valley.
“Our users, the Neighborhood, regional get more info political leaders, plus the UMWA labored tirelessly to maintain this facility open up also to return the staff to the jobs they may have experienced for more than a hundred years.”