ATK Produces One Hundred Millionth Round of Small Caliber Ammunition at Lake City Army Ammunition Plant
Aug 15, 2000
ATK (Alliant Techsystems) (NYSE: ATK) said it has produced the one hundred millionth round of small caliber ammunition at the Lake City Army Ammunition Plant in Independence, Mo. since taking over operations there on April 3, 2000.
Mark W. DeYoung, president, ATK Lake City Small Caliber Ammunition Company, said the milestone is a testament to a strong partnership between employees at the Lake City plant and the U.S. Army.
"The Lake City workforce and the Army are focused on a common goal: to produce the highest-quality small-caliber ammunition for our nation's fighting forces," said DeYoung. "We look forward to working together with the Army to achieve many more production milestones in the years ahead."
DeYoung said annual production of 5.56mm, 7.62mm, .30-caliber, and .50-caliber ammunition at the Lake City plant is expected to average more than 450 million rounds.
"Thanks to a smooth and seamless production transition, we are right on track to meet this target in our first year of operations," said DeYoung.
ATK was awarded a contract in 1999 to operate the Lake City Army Ammunition Plant and supply all the U.S. Army's requirements for small-caliber ammunition. The contract is expected to generate total sales of approximately $1 billion over the next 10 years, with annual sales averaging approximately $100 million.
ATK Lake City Small Caliber Ammunition Company is the largest supplier of small-caliber ammunition to the U.S. Department of Defense. It is one of four operating companies within ATK's Conventional Munitions Group, which designs and produces small-caliber, medium-caliber, and large-caliber ammunition, munitions propellants, commercial gunpowder, infrared decoy flares, and munitions primers and tracers. The group employs approximately 2,950 people in six states. Sales in fiscal year 2000 were $430 million.
ATK is a $1.1 billion aerospace and defense company with leading market positions in munitions, smart weapons and precision capabilities, propulsion, and composite structures. The company, which is headquartered in Hopkins, Minn., employs approximately 6,400 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: Alliant Techsystems
Contact: Media, Rod Bitz, 612-931-5413, rod_bitz@atk.com, or Investors,
Melanie E. R. Miller, 612-931-6921, melanie_miller@atk.com, both of Alliant Techsystems
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