ATK - Alliant Techsystems
Northrop Grumman Corporation announced June 6, 2018 it had closed the acquisition of Orbital ATK Inc. (“Orbital ATK”), a global leader in aerospace and defense technologies. Orbital ATK is now Northrop Grumman Innovation Systems, a new, fourth business sector. Northrop Grumman’s board of directors has elected Blake Larson as corporate vice president and president of Northrop Grumman Innovation Systems, reporting to Kathy Warden, Northrop Grumman’s president and chief operating officer. Larson previously served as the chief operating officer of Orbital ATK. Northrop Grumman is a leading global security company providing innovative systems, products and solutions in autonomous systems, cyber, C4ISR, strike, and logistics and modernization to customers worldwide.
“We welcome Orbital ATK’s talented employees,” said Wes Bush, chairman and chief executive officer, Northrop Grumman. “We are delighted to have them join the Northrop Grumman team, and we are very excited about the value creation our combination represents for our customers, shareholders and employees. Together, through our leading technologies and innovation-focused culture, we look forward to developing enhanced mission capabilities and more competitive offerings in critical global security domains,” said Bush. “I am also excited to welcome Blake to our leadership team,” Bush added. “He is a proven leader and I know that he will continue to focus on performance and innovation as the president of our new Innovation Systems sector.”
Northrop Grumman Corporation and Orbital ATK, Inc. (NYSE:OA), a global leader in aerospace and defense technologies, announced 18 September 2017 they have entered into a definitive agreement under which Northrop Grumman would acquire Orbital ATK for approximately $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. Orbital ATK shareholders would receive all-cash consideration of $134.50 per share. The agreement had been approved unanimously by the Boards of Directors of both companies. The transaction was expected to close in the first half of 2018 and is subject to customary closing conditions, including regulatory and Orbital ATK shareholder approval.
ATK - Alliant Techsystems - was a $2.1 billion aerospace and defense company with leading positions in propulsion, composite structures, munitions, and precision capabilities. The company employs approximately 11,300 people and has three business groups: Aerospace, Precision Systems, and Ammunition.
In 1990, ATK became an independent company when Honeywell spun off its former Defense and Marine Systems businesses, which had supplied defense products to the U.S. and its allies for 50 years. With the acquisition of Hercules Aerospace Company in 1995, ATK leveraged its strengths in propellants and warheads and added new capabilities in the design and manufacture of solid propulsion rocket motors and composite structures. In 2001, the company strengthened its presence in propulsion and composite structures with the acquisition of Thiokol Propulsion from Alcoa, Inc., and further expanded its position in munitions with the acquisition of the ammunition businesses of Blount International, Inc. In 2002, ATK acquired the Ordnance Group of The Boeing Company, a leading producer of medium-caliber gun systems for ground, sea, and air platforms.
The Aerospace Business Group is a leader in the design, development, and production of solid propulsion systems for commercial and government space launch vehicles, strategic missiles, and missile defense interceptors, and high-performance composite structures for space launch vehicles, military and commercial aircraft, satellites, and spacecraft. Provider of operations and technical support services for space launches, it has approximately 4,440 employees. The Precision Systems Business Group is a designer, developer, and manufacturer of gun-launched precision-guided munitions, fuzes and proximity sensors, electronic warfare systems, soldier systems, tactical barrier systems, tactical missile rocket motors and warheads, propulsion for missile defense systems, composite structures for aircraft and weapons systems, medium-caliber and tank ammunition, medium-caliber gun systems, and high-performance batteries. The Ammunition Business Group is a leading supplier of small-caliber military ammunition, ammunition propellant, commercial and military smokeless powder, law enforcement and sporting ammunition, and ammunition related products, and an operator of two U.S. Army manufacturing plants.
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