Remington Defense, who are already supplying the US Army with the XM2010 sniper rifle system, have just been awarded the coveted USSOCOM PSR (Precision Sniper Rifle) contract. Remington will produce 5,150 of their new bolt action Remington Modular Sniper Rifle, which will be now be called the Remington Defense PSR (Precision Sniper Rifle). Remington sister company Barnes Bullets will be supplying ammunition for the sniper system and AAC will supply the suppressors. It is a good day to be a Freedom Group investor!

From the press release …

Madison, N.C. –The United States Special Operations Command (USSOCOM) has awarded the Remington Defense Division of Remington Arms Company, LLC (“Remington”) – a subsidiary of Freedom Group Inc. (“FGI”) – a $79.7 million dollar Firm Fixed-Priced (FFP) Indefinite Delivery Indefinite Quantity (IDIQ) contract to provide up to 5,150 Precision Sniper Rifles (“PSR”) and 4.6 million rounds of precision ammunition. This award is the result of full and open competition conducted by USSOCOM.

Remington Defense will serve as the system integrator for the PSR, which is a durable sniper system capable of providing accurate target engagement and modular capabilities in barrel length and caliber conversion. Remington Defense will utilize two other FGI companies in the production process; Barnes Bullets will produce ammunition and Advanced Armament Corporation (AAC) will manufacture muzzle breaks and suppressors.

Remington Defense already holds the U.S. Army’s $28M contract for 3,600 XM2010 enhanced sniper rifle systems. Remington Defense will be able to leverage its sniper management, workforce, and supply base to ensure the delivery of quality and highly-effective PSR systems.

The PSR award further establishes FGI’s dominance in sniper system expertise, technology, and manufacturing capability for the U.S. Armed Forces and Law Enforcement Agencies.  FGI has the ability to produce a fully integrated sniper system consisting of firearm, suppressor, and ammunition products. FGI’s capabilities provide customers with unparalleled product affordability, quality, and technology.

“We are proud to provide our military Special Operations Forces with top-of-the-line technology,” said George Kollitides II, Chairman and Chief Executive Officer of Freedom Group and Remington Arms.  “The expertise, quality and centuries of experience at Remington are clearly recognized.  This award not only represents a new era in precision sniper systems, but also proves that an American manufacturing company can still expand its product offerings and compete in this modern age to provide best in class weapons, ammunition, and suppressors to our troops defending freedom around the globe.”

“Members of our armed forces, and especially those on Special Operations teams, are our Country’s first line of defense,” said John Day, Vice President and General Manager of Military and Law Enforcement.  “They deserve the highest quality and newest technology available.  Every aspect of the PSR was designed with this in mind.”