IN 2020 the Remington firearms business was sold to the Roundhill group for $US13 million. This sale ended the uphill battle of America’s oldest gunmaker since its acquisition by Cerberus Capital Management, later called the Freedom Group. The previous year, company sales had dropped to $US438 million, just half the total of 2016, when Remington had last shown a profit.
“The Model 783 may be an economy-class rifle but it is capable of extreme accuracy”
The breakup of Remington included a $US81 million sale of Remington Ammunition to Vista Outdoor Group (Federal, Speer, CCI). This put at risk the jobs of roughly 700 employees at Remington’s Ilion, New York plant and the Dakota shop in Sturgis, South Dakota. Fortunately, Jeff Edwards, head honcho of Roundhill, had had a long association with the shooting industry, notably at Easton, and was committed to keeping Ilion open.
He succeeded. The venerable Remington Arms company now exists under the new name RemArms. And now the budgetary Model 783 is one of the first of the resurrected
