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The desire was lofty and ambitious, and Huntsville was only a bit of it. Cerberus were trying For a long time to assemble a dominant American gun company. Very first, in 2006, it obtained Bushmaster, known for its AR-fifteen-design rifles. Then it paid $118 million in cash for Remington and assumed the company’s personal debt. Other acquisitions followed, until by 2013, eighteen enterprises were rolled up with each other less than Cerberus’s roof. One among Kollitides’s Work opportunities was to oversee the mandatory layoffs.
Smith & Wesson opened its new Tennessee headquarters in October just after becoming situated in Springfield, Massachusetts, because 1852. In asserting the transfer in 2021, company officers criticized proposed point out legislation they explained would prohibit them from production specified weapons.
Kollitides used Considerably of 2013 and 2014 zigzagging across the nation in Remington’s Piaggio turboprop. Handsome and charming, he persuaded numerous sought-just after executives to relocate to Huntsville. “George picked me up inside the plane in New Hampshire,” claimed Ginger Chandler, a former Smith & Wesson govt who served as senior vp of latest-item progress at Remington from 2014 to 2017.
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Stephens believes the remaining personnel will be able to locate other get the job done in the area. But he also estimates the plant’s decline could Expense the village almost $one million annually, which includes utility payments and taxes.
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The mayor mentioned there'll be challenging decisions ahead, but he's self-assured the location will probably be employed again. And while Remington may possibly depart, he stated the relationship can under no circumstances be fully severed.
Area officials hope the plant web-site can host a mix of producing, remington 1911 prices retail and residential units. But its destiny continues to be unclear. It was outlined for sale past month for $ten million.