ATK Awarded Options for Production of Sparrow Missile Rocket Motors Totaling $25 Million
Jan 16, 2002
ATK (Alliant Techsystems)(NYSE: ATK) has received an additional $9 million contract from the Naval Air Systems Command, Patuxent River, Md., for Sparrow missile rocket motors, bringing the total value of production options awarded in 2001 to $25 million. The company received a contract option valued at $16 million in November.
ATK Tactical Systems Company produces the Sparrow rocket motors at the Allegany Ballistics Laboratory in Rocket Center, W. Va. Work under the current contracts will continue through December 2003. The motors are being procured under the Foreign Military Sales (FMS) program and will satisfy individual country requirements.
The Sparrow is a medium-range, radar-guided, aerial-intercept missile with a high-explosive warhead that flies at supersonic speeds. It can attack high-performance aircraft and missiles from any direction.
ATK Tactical Systems Company began production of the dual-thrust solid-propulsion Sparrow motor in 1969. The motors contain separate boost and sustain propellants in a side-by-side configuration to propel the missile to its target. The company has produced and delivered over 33,000 Sparrow motors in a number of configurations to meet the increased capabilities of the missile over the years.
ATK is a $2 billion aerospace and defense company with leading positions in propulsion, composite structures, munitions, and precision capabilities. The company, which is headquartered in Edina, Minn., employs approximately 11,000 people and has two business groups: Aerospace and Defense. ATK news and information can be found on the Internet at http://www.atk.com/
SOURCE: Alliant Techsystems
Contact: Media, Rod Bitz, +1-952-351-3063, firstname.lastname@example.org, or
Investors, Steve Wold, +1-952-351-3056, email@example.com, both of Alliant Techsystems
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