ATK Awarded $40 Million Bushmaster III Chain Gun Contract
ATK's Dual Feed Technology Increases Mission Flexibility of Netherland Armored Vehicles
May 4, 2005
Minneapolis, May 4, 2005 – Alliant Techsystems (NYSE: ATK) has received a $40 million order from BAE Systems for the Bushmaster III dual feed chain gun®. The Bushmaster III chain gun will be mounted on the Netherlands’ CV90 Infantry Fighting Vehicles. Deliveries will begin in May, 2006.
The Bushmaster III fires 35mm ammunition. It offers a unique dual feed system that allows the operator to select different types of ammunition for use against a variety of targets. The compact size of the Bushmaster III facilitates easy upgrades to existing turrets and it shares significant commonality with other cannons in the Bushmaster family. The safety, reliability and low life cycle costs of the Bushmaster III add to the systems value.
This is the first production contract for Bushmaster III series, expanding ATK’s portfolio of chain guns mounted on armored vehicles. ATK’s M230, MK44 and M242 Bushmaster gun systems are already the choice for U.S. armed forces. In addition, the Polish, Finnish, Swiss and Norwegian armies have selected the MK44 for their armored vehicles. In total, ATK has equipped the U.S. military and 20 allies with more than 15,000 25mm, 30mm and 35mm chain guns.
ATK is a $2.4 billion advanced weapon and space systems company employing approximately 14,000 people in 23 states. News and information can be found on the Internet at www.atk.com.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in governmental spending and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, the outcome of contingencies, including litigation and environmental remediation, program performance, and sales projections. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and the statements contained herein, reference should be made to ATK’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.
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