ATK Completes Acquisition of Boeing Ordnance Business
May 31, 2002
ATK (Alliant Techsystems) (NYSE: ATK) has completed the acquisition of the ordnance business of The Boeing Company (NYSE: BA), a leading producer of medium-caliber gun systems for ground, sea, and air platforms.
The business will remain in Mesa, Ariz., and will be integrated into ATK Ammunition Systems, one of four operating units within ATK's Precision Systems Group.
Major programs in the acquired business include:
-- The Bushmaster gun family, comprising the 25mm M242 Bushmaster cannon, the 30mm Bushmaster II automatic cannon, and the 35mm/50mm Bushmaster III cannon. The 25mm M242 gun is the primary armament on the U.S. Army's M2 and M3 Bradley Fighting Vehicles, the U.S. Marine Corps LAV-25 light armored vehicle, Mk 38 deck mounts on U.S. Navy patrol boats, and a growing number of vehicles for international defense forces.
-- The MK 44 30/40mm automatic cannon, a derivative of the 30mm Bushmaster II automatic weapon. The U.S. Marine Corps has chosen the MK44 for its new advanced amphibious assault vehicle.
-- The 30mm M230 automatic cannon, part of the weapon system on the AH-64A Apache and the new AH-64D Apache Longbow helicopters.
-- The 27mm aircraft cannon under development for use on the Joint Strike Fighter.
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 11,300 people and has three business groups: Aerospace, Precision Systems, and Ammunition. 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, or firstname.lastname@example.org, or
Investors, Steve Wold, +1-952-351-3056, or email@example.com, both of Alliant Techsystems
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