ATK Awarded $8 Million Contract to Produce Electronic Components for Volcano Munition System
Sep 12, 2000
ATK (Alliant Techsystems) (NYSE: ATK) said it has been awarded a contract valued at $8 million from the U.S. Army Armament, Research, Development, and Engineering Center (ARDEC), Picatinny Arsenal, N.J., to produce electronic components for the Army's Volcano anti-tank munition system. The contract also contains an option for next year's production that could increase the total value to as much as $18 million.
Volcano is a multiple-delivery modular system used to rapidly dispense anti-tank munitions from a variety of platforms, including the UH-60 helicopter, the M548A1 tracked cargo carrier, and military trucks. Each system consists of a dispenser control unit, four launch racks, and 160 canisters, each containing six self-destructing munitions.
Larry Paryz, director, barrier systems and demolitions, ATK Integrated Defense Company, said, "We are pleased to continue to support the highly effective Volcano system, which enables U.S. ground forces to defend their positions against armored attacks. Our participation in the Volcano program clearly reflects our mission to provide our nation's war fighters the technology they need to return safely from the battlefield."
Production work on the Volcano contract will be conducted by ATK Precision Fuze Company at its manufacturing facility in Janesville, Wis.
"This contract is terrific news for employees of ATK in Janesville and for the U.S. Army, which will benefit from ATK's consistently top-quality manufacturing," said U.S. Rep. Paul D. Ryan (R-Wisconsin, 1st District). "They could not have entrusted this critical defensive system to a better partner than our own ATK."
ATK has been an industry partner to the U.S. Army and its soldiers for more than 60 years. Sales to the Army accounted for approximately 32 percent of total revenues in the most recent fiscal year, making the service the company's single largest customer. Major ATK Army programs include small-caliber, medium-caliber, and large-caliber ammunition, the Objective Individual Combat Weapon (OICW), the Tank Extended Range Munition (TERM), anti-tank and anti-personnel barrier systems, and mortar and artillery fuzes.
ATK Integrated Defense Company is a leading developer and producer of integrated infantry weapons, smart artillery systems, barrier systems, and secure Global Positioning System electronics subsystems. It is one of five operating companies within ATK's Defense Systems business segment, which reported fiscal year 2000 revenues of $221 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: ATK
Contact: Media, Rod Bitz, 612-931-5413, E-mail rod_bitz@atk.com, or
investors, Mark Mele, 612-931-6367, E-mail mark_mele@atk.com, both of ATK
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