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rifle firms thriving under activists' radar
Posted on 12/17/18 at 2:14 pm
Posted on 12/17/18 at 2:14 pm
BOSTON (Reuters) - A decade ago, Kentucky’s Anderson Manufacturing was a small machine shop that didn’t make firearms.
By 2016, it was making more rifles than Smith & Wesson, according to the latest available data from the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). Anderson’s big seller: assault-style rifles that cost up to $2,100 and require no lubrication. Anderson says it made nearly 454,000 rifles that year, or about 57,000 more than Smith & Wesson.
Anderson is the leader among a cluster of small, private companies that are taking market share from America’s biggest gun makers. They are doing so with catchy marketing or weapons that have, for example, more knockdown power for hunting wild pigs.
Some rifles made by companies such as Patriot Ordnance Factory and Daniel Defense fire larger .308-caliber rounds instead of the .223-caliber rounds more commonly used in AR-15s. Another firm, Kel-Tec CNC Industries Inc, makes the hot-selling Sub-2000 rifle - which folds up small enough to fit into a backpack. It costs $500 and fires popular 9mm handgun ammunition.
Smaller players largely have sidestepped scrutiny about their products or their financing because activists have mostly focused on pressuring big retailers and gun makers with publicly traded stock or debt held by mutual funds. Excluding the big three, there were 28 companies that made 10,000 or more rifles in 2016, up from 20 companies in 2011, according to ATF data.
LINK
By 2016, it was making more rifles than Smith & Wesson, according to the latest available data from the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). Anderson’s big seller: assault-style rifles that cost up to $2,100 and require no lubrication. Anderson says it made nearly 454,000 rifles that year, or about 57,000 more than Smith & Wesson.
Anderson is the leader among a cluster of small, private companies that are taking market share from America’s biggest gun makers. They are doing so with catchy marketing or weapons that have, for example, more knockdown power for hunting wild pigs.
Some rifles made by companies such as Patriot Ordnance Factory and Daniel Defense fire larger .308-caliber rounds instead of the .223-caliber rounds more commonly used in AR-15s. Another firm, Kel-Tec CNC Industries Inc, makes the hot-selling Sub-2000 rifle - which folds up small enough to fit into a backpack. It costs $500 and fires popular 9mm handgun ammunition.
Smaller players largely have sidestepped scrutiny about their products or their financing because activists have mostly focused on pressuring big retailers and gun makers with publicly traded stock or debt held by mutual funds. Excluding the big three, there were 28 companies that made 10,000 or more rifles in 2016, up from 20 companies in 2011, according to ATF data.
LINK
Posted on 12/17/18 at 2:17 pm to Jbird
A lot of "smaller" companies make some really good firearms. Plus, most are owned by and employ vets.
Posted on 12/17/18 at 2:19 pm to Dead End
quote:Correct. Plus the nutters have a hard time arm twisting banks about loans to said companies.
A lot of "smaller" companies make some really good firearms. Plus, most are owned by and employ vets.
Posted on 12/17/18 at 2:21 pm to Jbird
Remington filed for bankruptcy recently. Is this a case of the mom and pops beating big business?
Posted on 12/17/18 at 2:24 pm to Brosef Stalin
Cant be. As StraightCashHomey told us only like can compete against like.
Posted on 12/17/18 at 2:25 pm to Brosef Stalin
Hard to say, iirc they really fricked up the debt ratio.
(Reuters) - U.S. weapons manufacturer Remington Outdoor Co Inc FREDM.UL said on Thursday it had emerged from Chapter 11 bankruptcy with less debt and more stable financing that may help it ride out a slowing market for firearms.
Under the reorganization plan, inked two days before the Feb. 14 Parkland shooting, creditors including JPMorgan Chase & Co (JPM.N) and Franklin Advisors will take ownership stakes in the company in exchange for forgiving more than $775 million of debt.
Remington also received a $193 million new lending package funded by seven banks, including Bank of America Corp (BAC.N).
“Because it filed for Chapter 11 just weeks after the tragic Parkland shooting, Remington became the hot potato that many investors did not want to touch,” restructuring attorney Vincent Indelicato of Proskauer Rose said in an email. LINK
(Reuters) - U.S. weapons manufacturer Remington Outdoor Co Inc FREDM.UL said on Thursday it had emerged from Chapter 11 bankruptcy with less debt and more stable financing that may help it ride out a slowing market for firearms.
Under the reorganization plan, inked two days before the Feb. 14 Parkland shooting, creditors including JPMorgan Chase & Co (JPM.N) and Franklin Advisors will take ownership stakes in the company in exchange for forgiving more than $775 million of debt.
Remington also received a $193 million new lending package funded by seven banks, including Bank of America Corp (BAC.N).
“Because it filed for Chapter 11 just weeks after the tragic Parkland shooting, Remington became the hot potato that many investors did not want to touch,” restructuring attorney Vincent Indelicato of Proskauer Rose said in an email. LINK
Posted on 12/17/18 at 2:26 pm to Jbird
Buddy has a DD ar in .308. That thing ain’t a joke. They make a fine firearm
Posted on 12/17/18 at 2:27 pm to beerJeep
quote:
Buddy has a DD ar in .308. That thing ain’t a joke.
Posted on 12/17/18 at 2:28 pm to Jbird
I realllllly want one. But I have my eyes set on a p90 next
Posted on 12/17/18 at 2:31 pm to beerJeep
quote:
I realllllly want one. But I have my eyes set on a p90 next
Love my PS90! get one baw
Posted on 12/17/18 at 2:41 pm to Strannix
Don’t tempt me with a good time baw!
Posted on 12/17/18 at 2:45 pm to Jbird
quote:
Hard to say, iirc they really fricked up the debt ratio.
(Reuters) - U.S. weapons manufacturer Remington Outdoor Co Inc FREDM.UL said on Thursday it had emerged from Chapter 11 bankruptcy with less debt and more stable financing that may help it ride out a slowing market for firearms.
Under the reorganization plan, inked two days before the Feb. 14 Parkland shooting, creditors including JPMorgan Chase & Co (JPM.N) and Franklin Advisors will take ownership stakes in the company in exchange for forgiving more than $775 million of debt.
Remington also received a $193 million new lending package funded by seven banks, including Bank of America Corp (BAC.N).
“Because it filed for Chapter 11 just weeks after the tragic Parkland shooting, Remington became the hot potato that many investors did not want to touch,” restructuring attorney Vincent Indelicato of Proskauer Rose said in an email. LINK
They went on an M&A spree starting in about 2007 that finally caught up with them. Also had a couple of dud new product roll outs.
Posted on 12/17/18 at 2:57 pm to beerJeep
quote:
Don’t tempt me with a good time baw!
Grew up playing Goldeneye, LOL close as I can get without a SBR or stamp, hah I shot it and put it in the gunsafe
Posted on 12/17/18 at 2:59 pm to Brosef Stalin
quote:
Remington filed for bankruptcy recently. Is this a case of the mom and pops beating big business?
No, Remington's parent company ran them into the ground. Their QC has been really bad from what I understand
Posted on 12/17/18 at 3:02 pm to Strannix
I just have this thing where I HATE having just one gun for a caliber. I have the 5.7 so it’s just bugging the piss out of me not to have it’s sister
Posted on 12/17/18 at 3:04 pm to Jbird
Remington also has a serious issues with the triggers on the Model 700. Remington had agreed to replace all of the triggers.
Posted on 12/17/18 at 3:06 pm to cajunandy
That's not what did them in. That trigger issue has been around for decades
Posted on 12/17/18 at 3:09 pm to upgrayedd
I thought I remember them getting hit with a bunch of lawsuits. Maybe these newer small time companies are too under the radar to get hit with these frivolous lawsuits or maybe the leftists just went after Remington because they're a big company and have lots of money.
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