SIGforum
Palmetto parent company offering to buy Remington ammo business

This topic can be found at:
https://sigforum.com/eve/forums/a/tpc/f/320601935/m/7270004474

September 10, 2020, 07:56 AM
Leemur
Palmetto parent company offering to buy Remington ammo business
https://www.thetruthaboutguns....lets-for-65-million/

Would be nice to see this happen. Anyone know details on whether this is likely to get past the bankruptcy court and Remington debt holders?
September 10, 2020, 08:26 AM
Sig209
great move by them IMO to diversify their portfolio within the industry

hopefully they can crank up production quickly

its a booming market currently that's for sure

following SIGs playbook ??

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Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
September 10, 2020, 09:16 AM
gearhounds
That would be outstanding and a definite turn in the right direction insofar as management is concerned.



“Remember to get vaccinated or a vaccinated person might get sick from a virus they got vaccinated against because you’re not vaccinated.” - author unknown
September 10, 2020, 01:30 PM
Oat_Action_Man
Sounds like a good move. PSA has really changed its position in the market from simple dealer in other people's stuff to dealer in their own stuff to manufacturer of their own stuff. It takes big cojones to start domestic manufacture of an AK, which is far from a cheap gun to tool up to manufacture (not build of foreign parts).

I think they'd do Big Green justice, and maybe then be able to branch into a nice line of PSA precision rifles.


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Chuck Norris put the laughter in "manslaughter"

Educating the youth of America, one declension at a time.
September 10, 2020, 03:13 PM
Il Cattivo
Holy cow. Palmetto must be investing every penny it gets into growth. I'd love to see them do well - I've been happy to do buisness with them for years - but if they keep going from big gamble to big gamble, they may run into trouble at some point. Put it this way: getting a working AK line up and running wound up being something of a minor miracle, so I'd love to see them digest what they've taken in before they go off on a line of precision rifles or anything else. Hell, they haven't quite got the 74 line (5.45 and 5.56, mind you) up and running yet.
September 10, 2020, 07:08 PM
limblessbiff
PSA couldn’t keep anything in stock before the gun panic, I have my doubts on them helping the availability of ammo
September 11, 2020, 06:45 AM
walker77
Good for palmetto. They need a steady source for that $700 5.56 ammo they are selling......
September 11, 2020, 07:38 AM
x0225095
quote:
Originally posted by Leemur:
https://www.thetruthaboutguns....lets-for-65-million/

Would be nice to see this happen. Anyone know details on whether this is likely to get past the bankruptcy court and Remington debt holders?


Sounds like they submitted a bid. Yesterday was the day the court was making determination by my understanding. Article says 17th. I do know for a fact that employees have been notified in writing that “Remington Arms” will not be their employer as of September 28th....seems obvious enough since they will cease to exist.


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