U.S. Government Denies Protest by Olin Corporation Against Lake City Contract
Nov 16, 1999
ATK (Alliant Techsystems) (NYSE: ATK) said the U.S. General Accounting Office has denied a protest filed by Olin Corporation against the award of a contract to ATK to operate the Lake City Army Ammunition Plant in Independence, Mo.
Under the contract awarded on July 30, ATK will supply the U.S. Army's requirements for small-caliber ammunition over the next 10 years and operate the Lake City plant, the Army's only small-caliber ammunition production facility. The contract is expected to generate total sales of approximately $1 billion over the 10-year period, with annual revenues averaging approximately $100 million beginning in the company's fiscal year 2001, which starts April 1, 2000.
ATK is a $1.1 billion aerospace and defense company with leading market positions in munitions, solid propulsion, composite structures, and precision electronic fuzes. The company, which is headquartered in Hopkins, Minn., employs approximately 5,400 people and has three business segments: Conventional Munitions, Aerospace, and Defense Systems. ATK news and information can be found on the Internet at http://www.atk.com/
SOURCE: ATK
Contact: Media, Rod Bitz, 612-931-5413, rod_bitz@atk.com, or Investors,
Mark L. Mele, 612-931-6367, mark_mele@atk.com, both of ATK
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