ATK Awarded $2 Million Contract to Develop Fuzes for Rheinmetall
Mar 15, 2001
ATK (NYSE: ATK) (Alliant Techsystems), said it has been awarded a contract valued at $2 million from Rheinmetall W&M GmbH, Ratingen, Germany, to develop advanced electronic fuzes for next-generation large-caliber ammunition.
Under the contract, ATK Precision Fuze Company, Janesville, Wis., will design and build prototype fuzes for 120mm high-explosive smooth-bore tank ammunition and other large-caliber ammunition under development by Rheinmetall. Delivery of the prototype units is expected by the end of this year, to be followed by manufacturing of a quantity of the fuzes for qualification.
The contract is part of a teaming agreement between ATK and Rheinmetall announced in October 2000, under which the two companies are jointly developing next-generation large-caliber ammunition for use by future armored vehicles and current main battle tanks. In addition to development of the ammunition's fuzes, ATK also has exclusive rights to manufacture and sell the new rounds in the U.S.
"This contract brings together ATK's capabilities as the largest supplier of precision fuzes to the U.S. and its allies and Rheinmetall's expertise as a leading international munitions company to meet the changing needs of the word's military forces," said Blake Larson, president, ATK Precision Fuze Company. "It is one more chapter in a long history of successful cooperation on munitions programs between the two companies."
ATK Precision Fuze Company employs approximately 350 people at its manufacturing facility in Janesville. The company's products are used in artillery, mortar, bomb, rocket, cannon, air-delivered, and special operations systems.
Rheinmetall W&M GmbH is a defense company with a proven record of excellence in the research, development, testing, and manufacture of large-caliber/medium-caliber advanced weapons systems, weapon components, large-caliber ammunition as well as medium-caliber ammunition, lethal systems, and naval products.
ATK is a $1.1 billion aerospace and defense company with leading market positions in munitions, precision capabilities, propulsion, and composite structures. The company, which is headquartered in Hopkins, Minn., employs approximately 6,000 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, 952-931-5413, rod_bitz@atk.com, or Steve
Wold, Investors, 952-931-6747, steve_wold@atk.com, both of Alliant Techsystems
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