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Remington Arms: Possible Sell Off of Company.
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Has anyone else heard the news that supposedly Remington Arms will be dissolved next year. I have heard that Remington will sell their ammunition division to Beretta and that Remington Arms and Smith & Wesson will merge. Remington / Smith will move a large portion of their arms production into Eastern Europe (Czech / Russia). Just some news I heard today, thought I would see if anyone else has heard likewise. Hugh
 
Posts: 435 | Location: GA, USA | Registered: 14 January 2005Reply With Quote
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Well, at part of it is true. Because Remington is privately held, they do not have all the same reporting rules. On there is website is no mention of having guns made in Europe. But there is an item here about it:

http://www.serbianna.com/news/2005/02283.html

Serbian arms factory making guns for U.S. Remington
BELGRADE, Serbia-Montenegro-Serbia's only arms factory, Zastava, will produce 24,000 weapons for U.S.-based Remington Arms Company, Inc., next year, the factory manager said Monday.

Dragoljub Grujovic said that the production is part of a US$3.2 million (€2.7 million) deal with America's oldest gunmaker.

The first shipment of 3,000 carbine rifles and small-caliber guns is ready to go in January, Grujovic said. Another is planned for February and six more for later in 2006.

Cooperation between U.S. and Serbian companies became possible after the 2000 ouster of former President Slobodan Milosevic by a pro-Western coalition.

The agreement between Remington and Zastava will help revive the Serbian factory, which had suffered huge losses during years of U.S. and other international sanctions imposed on Serbia as a punishment for Milosevic's warmongering policies.

Milosevic is currently being tried by a Netherlands-based U.N. war crimes court.

Dec 26, 2005 5:40 AM The Associated Press
 
Posts: 253 | Registered: 04 January 2005Reply With Quote
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