Bankruptcy judge approves sale of Remington gun factory in Upstate New York

Bankruptcy judge approves sale of Remington gun factory in Upstate New York

A bankruptcy court judge has approved the sale of Remington’s non-Marlin firearms business, including its gun factory in Ilion, to Roundhill Group LLC. Syracuse, N.Y. — A bankruptcy judge approved the sale of Remington’s huge gun factory in Ilion on Wednesday as part of the arms maker’s breakup. U.S. Bankruptcy Court Judge Clifton R. Jessup Jr. of the Northern District of Alabama issued an order approving the sale of the non-Marlin portion of Remington’s firearms business to Roundhill Group LLC for $13 million. The deal includes Remington’s gun factory in the Herkimer County village of Ilion and its handgun barrel factory in Lenoir City, Tennessee. Roundhill has issued no public statements regarding the purchase and little is known about it. It appears to be an investment company, which could be good news for the Ilion plant and its more than 700 employees. Not being in the firearms business, it would not have another gun factory to take over the production that is done in Ilion. The United Mine Workers of America, which represents workers at the Ilion plant, issued a statement Monday saying it was hopeful that Roundhill will agree to keep the factory open. The union said it has been in talks with the company about the plant’s collective bargaining agreement and expects to resume the discussions following the court’s approval of the sale. Roundhill is one of seven successful bidders in a court-approved auction of Remington’s businesses. Vista Outdoor Inc. is buying the biggest piece. Its purchase […]

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