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May 20th, 2019

Get $75 Cash Back on Remington 700 Varmint Rifles

Remington Rifle Rebate 2017 summer Rem 700 varmint rifle

If you’re shopping for a new varmint or hunting rifle this summer, Remington wants your business. Right now Remington is offering $75 Cash Back on all Model 700 Varmint rifles purchased from May 1st through the end of July, 2019. Many different configurations are available. For example you can choose either a synthetic stock or a wood laminated stock.

NOTE: This Rebate Offer is valid on Rem 700 Varmint rifle purchases made from 5/1/19 through 7/31/19. All requests must be postmarked by 8/31/19. Important — Firearms Consumer Rebates are MAIL-IN ONLY. You MUST include your original cash register receipt AND the barcode from your owners manual (no exceptions). CLICK HERE for REBATE FORM (PDF).

NOTE: Remington is also offering $75 Cash Back on all Remington 1911 R1 handguns. The terms of this 1911 Pistol Rebate is similar to the Varmint Rifle Rebate — Purchase from 5/1/19 through 7/31/19, and submit Pistol Rebate Form by mail.

Permalink Hot Deals, Hunting/Varminting No Comments »
May 13th, 2019

Cartridge History: Ever Heard of the .244 Remington?

6mm Remington .244 Rem .243 Winchester .308 Cartridge AccurateShooter Chuck Hawks Sierra Bullets

What we now know as the “6mm Remington” was originally called the .244 Remington. The cartridge was renamed because it was not a commercial success initially, being eclipsed by the .243 Winchester. The .244 Remington and the 6mm Remington are identical — only the name was changed. Why was the .244 Remington an “also-ran” to the .243 Win? Sierra Bullets Ballistics Technician Paul Box provides some answers…

Was Anything Wrong With The .244 Remington?

by Ballistic Technician Paul Box for Sierra Bullets Blog

The year was 1955. A time of carhops, drive-in movies, and Buffalo Bob. It was also the year that Winchester introduced the .243 Win and Remington counter-punched with the .244 Remington (now more commonly known as the 6mm Remington). The .243 Win was based off the time-proven .308 Win case while Remington chose the old war horse, the 7×57.

We’ve all read countless times how Winchester chose the 1:10″ twist, while Remington adopted the 1:12″ twist for their .244 Rem rifles. The first complaint in the gun magazines of that era was how the faster twist Winchester could handle 100 grain bullets, while Remington’s [12-twist factory rifles were supposedly limited to 90 grain bullets].

The first complaint I remember reading was that the 100-grainer was better suited for deer-sized game and the 1:12″-twist wouldn’t stabilize bullets in this weight range. Now, let’s look at this a little closer. Anybody that thinks a 100-grainer is a deer bullet and a 95-grainer isn’t, has been drinking too much Kool-aid. In all honesty, it’s all about bullet construction and Remington had constructed the [90s] with light game in mind. In other words, Remington got it right, but due to a lack of knowledge at the time on both bullet construction and stability, the .244 never gained the popularity it deserved. At that time, Sierra had the 100gr SMP and Hornady offered a 100gr RN that would both stabilize in the slower 1-12″ twist. The .244 Remington provides another classic example of how the popularity of a cartridge suffered due to a lack of knowledge.

.244 Rem vs. .243 Win — What the Experts Say
Respected gun writer Chuck Hawks says the .244 Remington deserved greater acceptance: “The superb 6mm Remington started life in 1955, the same year as the .243 Winchester. It was originally named the .244 Remington. Although the 6mm lost the popularity contest to the .243, it is one of my favorite rifle cartridges, and much appreciated by reloaders generally. The .244 Rem and 6mm Rem cartridges are completely interchangable, and anyone with a .244 Rem rifle can shoot [6mm Rem] ammunition in complete safety (or vice-versa). Remington .244 rifles made from 1958 on can stabilize all 6mm bullets, while those made in 1955 through 1957 are limited to loads using spitzer bullets not heavier than 90 grains for best accuracy.”

Nathan Foster, author of The Practical Guide to Long Range Hunting Cartridges, states: “In 1963 Remington attempted to regain ground by releasing .244 rifles with a new 1:9″ twist to handle heavier bullets. The cartridge was renamed the 6mm Remington and new ammunition was loaded giving the hunter the choice of either an 80gr bullet for varmints or a 100gr bullet for deer. In comparison to the .243 Win, factory loads for the .244/6mm Remington are slightly more powerful while hand loads increase this margin further.”

6mm Remington .244 Rem .243 Winchester .308 Cartridge AccurateShooter Chuck Hawks Sierra Bullets

Was the .244 Remington Actually Better than the .243 Winchester?
The .244 Remington (aka “6mm Remington”) has a velocity advantage over the .243 Winchester due to a slightly larger case capacity. The longer case neck of the .244 Remington is considered desirable by handloaders. We like the added capacity and long neck of the original .244 Remington. As renamed the “6mm Remington”, the cartridge HAS developed a following, particularly with varmint hunters looking for a high-velocity 6mm option. But it never achieved the success of the .243 Winchester for many reasons. As a member of the .308 family of cartridges, the .243 Winchester has certain obvious advantages. First, you can simply neck down .308 Win brass, which was available at low cost from many sources. Moreover, a .308 Win or 7mm-08 full-length sizing die could be used for body sizing. Still the .244 Remington (6mm Remington) presents an interesting “what if?” story…

Permalink - Articles, Bullets, Brass, Ammo 10 Comments »
April 26th, 2019

Download FREE Remington Owners’ Manuals in PDF Format

CLICK HERE to Download Remington 700 Owner’s Manual

The Remington 700 is the most popular bolt-action rifle in America, at least according to Gunbroker.com sales figures for new and “previously-owned” rifles. So, chances are that you (or a close family member) may have a Rem 700 of some vintage sitting in the gunsafe. But do you have a copy of the official Remington 700 product manual in digital PDF format? Probably not.

To get you squared away, CLICK HERE for a PDF version of an official Remington 700 Owner’s Manual (also covers models Seven, and 673). CLICK HERE for the complete Remington Owner’s Manuals Archive.

Perhaps you own other Remington firearms as well. Here are links for other Remington Manuals. For each model, click the link and the manual should appear in your download folder as a PDF file. If that doesn’t work, then Right Click and “Save As” to Download.

Owner’s Manuals

 Rifles  Shotguns Pistols
 Model 700™ EtronX™   Model 870™ Model XP-100
 Model 700™   Model 1100™ 
 Model 710™  Model 11-87™
 Model Seven™   Model SP-10™ 
 Model 7400™/750™  Model SPR453™ Air Rifles
 Model 7600™  Model SPR310™/SPR310S™ Express
 Model 673™  Model SPR210™/SPR220™
 Model 597™   Model SPR220H™
 Model 700™ ML  Model SPR100™
 Genesis™ Muzzleloaders  Premier® Over & Under 
 Model 700&trtrade; Ultimate Muzzleloader  Model 300 & 332 Over & Under
 Model 798™/799™  Model 105CTi
 Model Five™   Versa Max™
 Model SPR22™   Model 10
 Model SPR94™  (.410)  Model 11-48
 Model SPR94™ Combo  Model 31
 Model R-15 VTR™   Model 878
 Model R-25™  Sportsman 58
 Model 552™/572™  Peerless™ Over & Under
 Model 770™  Sportsman 12 Pump
 Model 715™  Model 11
 Mohawk 10 C  Model 887
 Model 742  
 Model 4
 Model 8
 Model 12
 Model 14
 Model 24
 Model 25
 Model 41
 Model 81
 Model 341
 Model 512
 Model 550
 Model 591 and 592
 Model 600
 Model 740
 Model 760
 Model 1903-A3
 Model 1917
 Nylon 66
 Nylon 77
Permalink - Articles, Hunting/Varminting, Tech Tip 3 Comments »
April 15th, 2019

Six-Five Smackdown: The .260 Remington vs. 6.5×55 Swedish

6.5x55 SE, 6.5 Swedish 6.6x55mm .260 Rem Remington Laurie Holland comparison

The .260 Remington and the 6.5×55 Swedish (aka 6,5x55mm SE) are both very popular cartridges with hunters and target shooters. The 6.5×55 has a long military heritage and a great record as a hunting round. The .260 Rem, essentially a .308 Win necked down to .264 caliber, is a more recent cartridge, but it grows in popularity every year, being one of the top cartridges for tactical/practical competitions. It offers better ballistics and less recoil than the parent .308 Win cartridge. In our Shooter’s Forum, respected UK gun writer Laurie Holland provided a good summary of the differences between the two chamberings. Laurie writes:

Remington 260 CartridgeThe 6.5×55 case has 6 or 7% more capacity than the .260s, even more in practice when both are loaded to standard COALs with heavy bullets, which sees them having to seated very deep in the .260 Rem using up quite a lot of powder capacity. So loaded up for reasonable pressures in modern actions, the 6.5×55 will give a bit more performance.

The issue for many is what action length is available or wanted, the 6.5×55 requiring a long action. So sniper rifle / tactical rifle competitors will go for the .260 Rem with the option of the many good short-bolt-throw designs around with detachable box magazines (DBMs). If a bit more performance is needed, the .260 AI (photo right) can yield another 100-150 fps velocity, depending on bullet weight.

(more…)

Permalink - Articles, Reloading, Tech Tip 12 Comments »
October 15th, 2018

.223 Remington vs. 5.56x45mm — Facts vs. Fiction

.223 Rem Remington 5.56 SAAMI CIP 5.56x45 5.56x45mm NATO cartridge ammo pressure test luckygunner ultimatereloader Gavin Gear

Probably the most popular centerfire rifle round in the Western Hemisphere is the .223 Remington and its metric match, the 5.56x45mm. Though many folks use “.223 Rem” and “5.56×45″ interchangeably, there are some meaningful differences in specifications for the original .223 Rem and the 5.56x45mm cartridge, as adopted by the U.S. military and NATO armies. The default chamber throats are slightly different and the .223 Rem is rated at 55,000 PSI vs. 62,366 PSI for the 5.56x45mm.*

.223 Rem vs 5.56x45mm — Key Differences
There is a truly outstanding, very thorough article on the subject, published by LuckyGunner.com.** This involved extensive testing, with pressure monitors, of 5.56x45mm ammo in .223 Rem chambers. Those tests revealed the peak pressures. Here is one of the ammo test charts:

.223 Rem Remington 5.56 SAAMI CIP 5.56x45 5.56x45mm NATO cartridge ammo pressure test luckygunner ultimatereloader Gavin Gear

NOTE: “The observed chamber pressure for Federal XM855 5.56mm ammunition in a .223 Rem chamber exceeded .223 maximum pressures, but not by a massive amount. The ninth shot (the red line) was an underpowered cartridge which exhibited significantly lower velocity and pressure than the other rounds, so it was excluded from the average velocity and pressure numbers for this chamber.”

And if you’re curious, LuckyGunner also fired .223 Rem ammo in a 5.56x45mm NATO-chambered AR15 rifle. As you would expect, the peak pressures were significantly lower, but the .223 Rem ammo still cycled the semi-auto AR-platform rifle perfectly well:

.223 Rem Remington 5.56 SAAMI CIP 5.56x45 5.56x45mm NATO cartridge ammo pressure test luckygunner ultimatereloader Gavin Gear

READ FULL LuckyGunner .223 Rem vs. 5.56x45mm ARTICLE »

UltimateReloader.com Explains .223 Rem vs. 5.56x45mm
To explain the key differences between the .223 Rem and 5.56x45mm cartridges our friend Gavin Gear of UltimateReloader.com has created a very thorough 12-minute video. This covers the cartridge specifications and explains key considerations for hand-loaders. Gavin also addresses the oft-asked question “Can I shoot 5.56x45mm ammo in my .223 Rem chamber?” Gavin’s video is definitely worth watching. In fact, this is one of the most popular videos Gavin has ever created — it has been watched over 300,000 times on YouTube.

What Exactly Is the 5.56x45mm NATO Cartridge?
The 5.56×45mm NATO is a rimless bottle-necked intermediate cartridge family standardized by NATO with development work by FN Herstal. It consists of the SS109, SS110, and SS111 cartridges. Under STANAG 4172, it is a standard cartridge for NATO forces as well as many non-NATO countries.

Bullet diameter: 5.70 mm (0.224 in)
Maximum pressure (EPVAT): 430.00 MPa (62,366 psi)
Maximum pressure (SCATP 5.56): 380.00 MPa (55,114 psi)
Case length: 44.70 mm (1.760 in)
Rifling twist: 178 mm or 229 mm (1 in 7 in)
Parent case: .223 Remington (M193)

Ammo-Maker Federal Premium Compares .223 Rem and 5.56x45mm
Here is a video from ammo-maker Federal Premium explaining the difference between .223 Remington and 5.56x45mm NATO. Federal states that you may experience excessive pressures when firing a 5.56x45mm in a standard .223 Remington chamber:

One leading gunwriter has addressed the question of shooting 5.56x45mm ammo in .223 Rem chambers. He advocates caution (for more info, SEE pressure tests by LuckyGunner.com):

“I have received a slew of questions — many from first time AR-type rifle buyers — about the .223 Rem and the 5.56×45 mm NATO cartridges. Can I shoot 5.56×45 mm NATO in my .223 and vice-versa? Are these the same cartridge?

Externally, the two cartridge cases are identical. The main differences are that 5.56×45 mm NATO operates at a higher chamber pressure (about 60,000 PSI versus 55,000 PSI on the .223 Rem.) and the 5.56’s chamber is slightly larger than that of the .223 Rem. Also, the throat or leade is longer in the 5.56×45 mm chamber. What does this mean? You should not shoot 5.56×45 mm NATO out of a rifle that is chambered in .223 Rem. And be aware that some .223 Rem. ammunition will not reliably cycle through some AR-style .223 Rem. rifles, but it usually does. As a matter of fact, I have not encountered any difficulty with current .223 Rem. loads cycling through a 5.56 mm AR-style rifle.”
– Mark Keefe, Editor, American Rifleman


* According to the official NATO proofing guidelines, the 5.56×45mm NATO case can handle up to 430.0 MPa (62,366 psi) piezo service pressure. The U.S. SAAMI lists Maximum Average Pressure (MAP) for the .223 Remington cartridge as 55,000 psi (379.2 MPa) piezo pressure with deviation of up to 58,000 psi (399.9 MPa). The chamber for military 5.56×45mm NATO has a longer throat prior to the bullet contacting the rifling which results in lower pressures when firing 5.56×45mm NATO ammunition. If 5.56×45mm NATO is used in rifles chambered for .223 Remington the bullet will be engraving the rifling when chambered. which can increase pressures past SAAMI Max levels. NOTE: The C.I.P. standards for the C.I.P. civilian .223 Remington chamber are much closer to the military 5.56×45mm NATO chamber.

** The full-length LuckyGunner article is well worth reading. It even provides specifications for a number of .223 Rem reamer types, and compares the original .223 Rem, the 5.56x45mm NATO, and the modern .223 Wylde chamberings.

Permalink - Articles, - Videos, Bullets, Brass, Ammo, Tech Tip 3 Comments »
September 9th, 2018

“REMAGE” Remake — Converting Remington to Barrel Nut System

Remage Savage Remington Rebarrel Rifleshooter.com 6BR 6mmbr
Barrel nut system allows “Pre-Fit” barrel installation on a Remington action. CLICK photo to zoom.

REMAGE Project Report by Bill, Rifleshooter.com Editor
Installing a new barrel on your Remington 700 (especially without a lathe) may seem like a daunting task, but thanks to companies like McGowen Precision Barrels, there are easier alternatives. By adopting a Savage-style barrel nut on a 1 1/16″ thread for a Remington 700 receiver, pre-chambered (aka “pre-fit”) barrels can be easily swapped with just a few hand tools. This system is sometimes called a REMAGE conversion (for “REMington savAGE”). With simple tools a “Pre-fit” 6mmBR-chambered barrel was installed on the author’s Remington action — no machining or lathe-work required.

Remage Savage Remington Rebarrel Rifleshooter.com 6BR 6mmbr

Using a few tools from Brownells: Remington 700 Action Wrench, Barrel Vise, Go and No-Go Gauges, Recoil Lug Alignment Tool, and a Savage Barrel Nut Wrench, I was able to swap the .308 Winchester barrel off of my Remington 700 short action and install the new McGowen pre-fit, pre-chambered barrel, converting it to a tack-driving 6BR (aka 6mmBR Norma).

The existing barrel is simply removed from the action (normally the hardest part) and the new barrel is screwed on with the Go Gauge in place. After headspace is verified with the Go Gauge, the barrel nut is tightened against the action and you are off to the range. It takes all of the machine work out of the barreling process.

Note: Because barrel nut has a slightly larger diameter, some stocks may require minor inletting. Also, if you are shooting fired brass from another rifle with the same chambering, you should FL-size the brass before loading it for your new pre-fit barrel. And always check the set-up with a dummy round loaded to normal cartridge length BEFORE you head to the range. With Pre-Fits, the freebore should be adequate for your cartridge, but always check and adjust your seating depth as needed.

remage 6mm BR 108 berger best group 360

My McGowen Remage barrel looks and shoots great. I’ve written two longer articles that provide greater detail about this project. To learn more about how the barrel was installed, read: Rebarrel a Remington 700 without a lathe: McGowen’s Remage barrel conversion. To see how the rifle performed at the range, read: McGowen Remage Barrel Review: Spoiler Alert- It Shoots!.

Bill has been a serious shooter for over 20 years. A former Marine Corps Sergeant, he’s competed and placed in High Power Rifle, ISPC, USPSA, IDPA, 3-Gun, F-Class, and precision rifle disciplines. In addition to being an NRA-certified firearms instructor and range officer, Bill has hunted big game in North America, South America, and Africa. Bill writes extensively about gunsmithing, precision rifles, and the shooting sports on his blog, Rifleshooter.com.

Permalink - Articles, Gunsmithing 1 Comment »
August 28th, 2018

Remington Pre-Fit Barrels with Savage-Style Barrel Nut

Mcree Precision Mcrees Savage Remington pre-fitted pre-chambered pre-fit barrel system kit nut
McRee’s Precision Remington DIY Barrel Kit includes Criterion Pre-Fit Stainless Barrel, Barrel Nut, Recoil Lug, Thread Protector, and Barrel Nut Wrench:

Need a new barrel for your Rem-actioned hunting or tactical rifle? Here’s a great DIY option for riflemen. McRee’s Precision offers complete, no-gunsmithing re-barreling kits for Remington and Rem-clone actions. These feature a high-quality, pre-chambered “PRE-FIT” stainless barrel from Criterion, a Savage-style barrel nut, a recoil lug, and a special barrel-nut wrench. Most of the Pre-Fit barrels are 24″ long and threaded at the muzzle. CLICK Here for all Pre-Fit barrel specs.

With this system you can easily re-barrel your favorite Remington rifle yourself in less than an hour. You don’t need to pay gunsmithing fees, or wait weeks (or months) for a busy smith to do the job. And the price is under $500.00. Kits are currently available for these chamberings: 6.5 Creedmoor, 6mm Creedmoor, .243 Win, .308 Win, .308 Winchester Magnum. You can buy with confidence — McRee’s Precision offers a Half-MOA Accuracy Guarantee with its pre-fitted barrel kits.

Mcree Precision Mcrees Savage Remington pre-fitted pre-chambered pre-fit barrel system kit nut
The stainless steel Barrel Nut is set up for 1 1/16 x 16 barrel threads, while the stainless steel recoil lug has a 1/8 inch removable locator pin and is set up for 1.0625 dia barrel threads.

McRee’s Precision sells Rem-action Pre-Fit barrel packages (complete with barrel nut, recoil lug, and wrench) starting at $489.52. Choose from five chamberings: 6.5 Creedmoor, 6mm Creedmoor, .243 Win, .308 Win, and .300 Win Mag. These Pre-Fit barrel kits come ready-to-install. All you need to do is remove your current barrel, place the recoil lug, spin on the new tube, follow the instructions for setting head-space with standard go/no-go gauges, then torque the barrel nut against the lug. NOTE: You may require a barrel vise and action wrench to remove the original barrel. Chambering-specific headspace gauges required. Minor inletting changes may be needed forward of the action.

Mcree Precision Mcrees Savage Remington pre-fitted pre-chambered pre-fit barrel system kit nut

The folks at McRee’s Precision say their Pre-Fit system offers many advantages: “Remington Pre-Fitted Barrel Kits have become popular over the years. If Savage can do it, why not for our Remingtons? Our [Criterion-supplied] barrels are spec’d to the McRee standard of performance. There are several places to get the tools required to remove your factory barrel correctly. Once you have your barrel removed all you have to do is follow the normal Savage procedure to install your new barrel. We recommend that you contact your local gunsmith for the install. Feel free to call us with any questions.”

Product Tip from Ed LongRange. We welcome readers’ submissions.
Permalink Gear Review, Gunsmithing, Tech Tip No Comments »
July 2nd, 2018

How .223 Remington Ammunition is Made

Fog Ammunition .223 Remington Rem Ammo loading machine Sierra BlitzKing

Here’s an entertaining video from Fog Ammunition. Starting with boxes of bullets and bags of cartridge brass, this video shows how components are bulk-sorted, then .223 Rem ammunition is produced on a modern, linear multi-stage loading machine. In assembly-line fashion, cases are primed, powder is added, bullets are placed, final seating depth is set, and then the case is crimped.

If you’ve never seen an automated loader in action you should definitely watch this video. With this kind of machine, a new round is produced every second or so (see video 1:15 to 1:55). The .223 Remington ammunition featured in this video is loaded with Sierra BlitzKing bullets. Fog offers both rifle and pistol ammo loaded with quality components.

Video Shows Automated Loading Process Start to Finish (Worth Watching):

Fog Ammunition .223 Remington Rem Ammo loading machine Sierra BlitzKing

Fog Ammunition .223 Remington Rem Ammo loading machine Sierra BlitzKing

Fog Ammunition .223 Remington Rem Ammo loading machine Sierra BlitzKing

Fog Ammunition .223 Remington Rem Ammo loading machine Sierra BlitzKing

Permalink - Videos, Bullets, Brass, Ammo 3 Comments »
June 26th, 2018

Troubleshooting the Remington 700 — Fixing Fouling Problems

Nathan Foster New Zealand Rem 700 rifle copper fouling accurizing barrel lapping

Turn a Rough Factory Rifle into an Accurate Hunting Rig
Kiwi Nathan Foster has produced a good video for hunters with “under-performing” Remington Model 700 rifles. In this video, Nathan helps a client turn a badly-behaving Rem 700 into a reliable tack-driver. A customer had sent Nathan this rifle to rectify stubborn copper fouling. After bedding the rifle, the customer discovered that the rifle produced terrible groups due to the stubborn bore.

Nathan told us: “This was a grand opportunity to study what can go wrong with the M700 rifle with regards to both do-it-yourself work and flaws within rifle production. To help structure the video, we used the chapters of our Accurizing Book as reference steps for the video. This footage also works in conjunction with our free Remington bedding tutorials on YouTube.

Those who have watched the full M700 Troubleshooting video say this is one of the most helpful videos yet released on problem-solving with a factory hunting rifle. This video is especially helpful for those just getting into the accuracy game, as it walks the viewer through the basics of rifle tuning, then proceeds to more advanced methods of improving a badly-behaving rifle.

This video focuses on the Remington M700 and Rem clones, such as the Bergara rifle. However the lessons and techniques in the video can apply to any type of bolt-action rifle suffering heavy copper fouling. The video features detailed footage of barrel break-in and barrel-lapping procedures. These procedures may be beneficial for rough factory barrels. IMPORTANT! AccurateShooter.com recommends different break-in and maintenance regimes for custom, hand-lapped premium barrels — be conservative with fine custom barrels. Our best custom barrels have all shot superbly with minimal break-in and zero use of abrasives during break-in.

Troubleshooting the Remington 700 Rifle with Nathan Foster

NOTE: This is a free 70-second trailer video. The FULL Remington Troubleshooting Video is 1 hour, 16 minutes long and can be streamed through Vimeo-on-Demand for $12.00. Access Full Video HERE.

Nathan Foster of Terminal Ballistics Research in New Zealand, is a expert hunter and highly-respected author of a series of hunting and long range shooting books. Nathan’s first book, The Practical Guide to Long Range Hunting Rifles, is a classic — one of the best treatises ever written on choosing and using a hunting rifle.

Nathan Foster Long Range Rifles Hunting Hunter

CLICK HERE to Download Remington 700 Owner’s Manual

The Remington 700 is the most popular bolt-action rifle in America, according to Gunbroker.com sales figures for new and “previously-owned” rifles. So, chances are that you (or a family member) have a Rem 700 of some vintage sitting in the gunsafe. Click the link above for a PDF version of the Remington 700 Owner’s Manual (also covers models Seven, and 673).

Permalink - Videos, Hunting/Varminting, Tech Tip No Comments »
May 18th, 2018

Remington Emerges From Chapter 11 Bankruptcy

Remington emerges Chapter 11 Bankruptcy debt shares restructuring

Good news for fans of Big Green — Remington remains a going concern…

On 5/17/2018, Remington Outdoor Company (“Remington”) announced that it has emerged from Chapter 11 after successfully implementing the reorganization plan recently approved by the Delaware Bankruptcy Court. Basically, the bankruptcy proceeding has converted debt into equity allowing Remington to move forward with significantly reduced debt load and associated interest costs.

“The Plan provides a comprehensive balance sheet restructuring of the Company and converts over $775 million of the Company’s debt into equity,” stated the Remington press release.

“In addition, the Plan provides the Company with a new Asset Based Loan (“ABL”) facility of $193 million, the proceeds of which will refinance its prior ABL facility in full, a new $55 million First-In, Last-Out Term Loan and a new $100 million Term Loan.” The Plan received support from over 97% of the voting Term Loan Lenders and all of the voting Third Lien Noteholders.

“It is morning in Remington country,” said Anthony Acitelli, Chief Executive Officer of Remington. Mr. Acitelli continued, “We are excited about the future — producing quality products, serving our customers, and providing good jobs for our employees.”

Old Shared Cancelled, New Shares Issued to Previous Lenders
The bankruptcy essentially extinguished old Remington stock shares and replaced them with new shares: “As provided in the Plan, all shares of Remington’s common stock issued prior to the commencement of Remington’s bankruptcy proceeding were cancelled upon emergence, and Remington has issued new shares of common stock and, in some cases, warrants, to the holders of its previously outstanding funded debt in return for their allowed claims against Remington.”

Remington Has a Storied History
Founded in 1816 by Eliphalet Remington in New York, Remington is the oldest continuously-operating gun manufacturer in the United States. Even with its present difficulties, Remington still sells more sporting rifles and shotguns than any other American company. Remington has developed more cartridges than any other U.S. company. And it is the only American company that sells firearms AND ammunition under its own name.

Permalink Bullets, Brass, Ammo, News No Comments »
February 13th, 2018

Remington Pursues Bankruptcy to Reduce Massive Debt

Remington Outdoor Company files Chapter 11 Bankruptcy Cerberus Equity J.P. Morgan

Remington Outdoor Company Inc. (Remington) will file for Bankruptcy in the Delaware Federal Court. The North Carolina-based company is pursuing Chapter 11 Bankruptcy to reduce its $950,000,000 in debt. According to Reuters, Remington hopes to work out an agreement with its creditors to write off about $700 million in debt obligations. That would permit Remington to sustain manufacturing operations and retain most of its work-force. In announcing the Bankruptcy filing, Remington executives stated that the company will continue to operate as usual during the bankruptcy proceedings.

(Reuters) – Remington Outdoor Company Inc., one of the largest U.S. makers of firearms, said on Monday it had reached a deal with its creditors to file for Chapter 11 bankruptcy to slash its $950 million debtload. Remington said it will receive $145 million in bankruptcy financing to fund the company through the Chapter 11 process.

Cerberus Will Yield Control of Remington to Creditors
If the pending deal with creditors goes through as planned, Cerberus, the private equity group that currently controls Remington, will lose ownership of the company. Through the bankruptcy, according to Reuters: “the company’s creditors, which include Franklin Templeton Investments and J.P. Morgan Asset Management, will exchange their debt holdings for equity in the company.”

Two months ago, AccurateShooter.com noted that Remington was considering Bankruptcy. Our report noted that an earnings decline left Remington few options. In early December, Fox News reported: ““The rifle and shotgun manufacturer’s third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year. Over the first nine months of 2017, the company has produced a $60.5 million net loss, compared to a $19.1 million gain in the prior-year period. And with its credit rating in the trash bin, the future is bleak for ‘America’s oldest gunmaker’. Today, debt on the company’s books has ballooned to almost $1 billion[.]”

Remington Has a Storied History
Founded in 1816 by Eliphalet Remington in New York, Remington is the oldest continuously-operating gun manufacturer in the United States. Even with its present difficulties, Remington still sells more sporting rifles and shotguns than any other American company. Remington has developed more cartridges than any other U.S. company. And it is the only American company that sells firearms AND ammunition under its own name.

Permalink Hunting/Varminting, News 13 Comments »
December 9th, 2017

Remington May Face Bankruptcy Reports Fox News

Remington Fox News Bankruptcy credit rating sales declines

There are tough times ahead for Remington. Fox News reports that: “Privately-held Remington Outdoor is now at risk of declaring bankruptcy after a collapse in sales and profits. Saddled with debt, the historic gun manufacturer is short on avenues for escape.” (LINK). Fox News adds:

“The rifle and shotgun manufacturer’s third-quarter sales plunged 41% as demand for firearms dried up. That led Remington to report adjusted earnings before interest, taxes, depreciation, and amortization that were 78% lower year over year. Over the first nine months of 2017, the company has produced a $60.5 million net loss, compared to a $19.1 million gain in the prior-year period.

And with its credit rating in the trash bin, the future is bleak for ‘America’s oldest gunmaker’. Today, debt on the company’s books has ballooned to almost $1 billion[.]”

Read Full Remington Report on FoxBusiness.com »

Financial analysts report that Remington’s earnings decline will further harm the company’s already poor corporate credit rating. That means Remington must pay even higher interest rates to borrow money, further bleeding cash and decreasing profitability. This, in turn, accelerates the momentum towards filing bankruptcy. Fox explains: “With the firearms and ammunition manufacturer burning through cash as a result of falling sales, S&P expects it will undertake a restructuring within the next year.”

Other large American gun industry companies have seen their stock value drop dramatically this year. Vista Outdoor (Savage, RCBS, CCI etc.) is down 62% since December 9, 2016, while American Outdoor Brands (Smith & Wesson) has dropped 36%.

Remington Has a Storied History
Founded in 1816, Remington is the oldest continuously-operating gun manufacturer in the United States, and remains one of the USA’s oldest commercial enterprises. Even with its present difficulties, Remington still sells more sporting rifles and shotguns than any other American company. Remington has developed more cartridges than any other U.S. company. And it is the only American company that sells firearms AND ammunition under its own name.

Remington Fox News Bankruptcy credit rating sales declines

The Remington enterprise was founded in 1816 by Eliphalet Remington in Ilion, New York, as E. Remington and Sons. In 2016 Remington celebrated 200 years of history. American Rifleman TV explored the history of Remington Arms Company in a TV special which focuses on many of the company’s most noted firearms. Here is a preview:

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