Windham's (Maine) Home of Bushmaster Set to Close. Update

[billt]

Sometimes during a preplanned acquisition like this, there exists good opportunities for many floundering gun companies to be purchased strictly for their tangible assets. Machinery, tools, fixtures, stock making equipment, perishable tooling, and the like. In short these companies are worth more dead than alive.

Take a company like Ithaca Gun, or High Standard. They've had many owners who have tried countless times to make them successful by restructuring, modifying product line, and the like. Most all of the time it has proven to be unsuccessful. Finally, they are simply given up on and sit in a state of limbo with plywood on the doors. They only exist on a banks computer as a bad, unsellable asset. A company like Cerberus can catch a lot of these down, but not quite out firearms companies and purchase all of their assets for literally pennies on the dollar, and at the same time offer the downtrodden owners a way out besides bankruptcy. It's all a matter of timing.

Then, these above mentioned assets can be put to use elsewhere in one of the many other companies they've purchased, and be used to add to the product line. Kind of like what High Standard did in it's more successful days with Auto Mag. Harry Sanford built a hell of a nice, well made pistol in the .308 Auto Mag. It was a gun way ahead of it's time. He just couldn't sell the damn thing no matter how hard he tried. Hell, even Clint Eastwood couldn't sell it! High Standard bought everything and tried to sell it under their name, i.e. "The High Standard Auto Mag Pistol". It did better, not not well enough to stay in production. Perhaps if High Standard was in better financial shape they could have produced the pistol more efficiently and marketed it better, and it would still be in production today. Point being in all of this is that a lot of good can come from these multiple acquisitions like Cerberus is doing. If they weren't around a lot of these companies like Remington would simply wither and die on the vine, their products lost forever. Cerberus, like them or not, is really giving the gun industry in this country a huge infusion of capitol. That is something that it can really absorb, especially in such a horse$h!t economy that we are all faced with today, and most likely will be for years to come. Longer everyday Hussein stays in 1600 North.   Bill T.

[david86440]

Not moving to the South...................

http://online.wsj.com/article/AP94ec4aabf8104da3a2fb0f37a53930ad.html

Associated Press

ILION, N.Y. — A central New York firearms company is expanding manufacturing operations and adding 40-to 50 jobs.

Remington Arms will be folding the operations of Bushmaster Firearms International into its manufacturing plant plant in Ilion, 55 miles east of Syracuse.

Both Remington and Bushmaster are part of Freedom Group, which is closing Bushmaster's plant in Windham, Maine on March 31.

Bushmaster is the top supplier of AR-15 semi-automatic rifles in the country. The line is used by law enforcement agencies, military and for recreational purposes.

Sen. Charles Schumer said Tuesday that the move strengthens Remington's ability to compete for Department of Defense small arms M-4 and M-16 style firearms.

In mid-February, Remington announced it would hire nearly 100 new workers to accommodate operations previously performed at a Marlin Firearms plant in Connecticut.

[twyacht]

Sen. Schumer, only likes firearms, when it brings $$$$ to his state. I wonder what behind closed doors "incentives" Chucky promised them....

Thanks for the update david.

[tombogan03884]

If I recall, that is where Marlin moved to as well. I know they consolidated manufacturing with another Co.

[Ping]

Now I am wondering when they are going to move DPMS Panther Arms out of Minnesota and combine them?

There are some serious big wigs behind Cerberus. They used to own Chrysler for a moment. Freedom Group is out for maximum profit. Not mad at them though cause it is capitalism in it's purest form.

I absolutely agree with Billt in reference to them keeping some of the better firearms makers in business.

[Sponsor]

[jaybet]

So Schumer is happy to let regular folk MAKE evil assault rifles when it makes him look good...we're just not allowed to OWN one.