ATK Awarded $21 Million Contract to Continue Development of Precision-Guided Mid-Range Munition
Jan 28, 2003
MINNEAPOLIS, Jan. 28 /PRNewswire-FirstCall/ -- ATK (Alliant Techsystems) (NYSE:ATK) has been awarded a $21 million contract from the U.S. Army to continue development of the Army's new precision-guided Mid-Range Munition (MRM).
The contract represents the continuation of a multi-phased development program. The current phase will conclude in September with a gun-launched, guide-to-hit demonstration of MRM autonomous guidance. The next phase, system design and development, is expected to begin in 2004.
The kinetic-energy (KE) MRM projectile is designed to defeat a wide array of targets, including main battle tanks equipped with explosively reactive armor and active protection systems. It has also demonstrated a unique multi- purpose capability in a recent gun-fired test at Yuma Proving Grounds in Arizona, during which its long-rod penetrator and burning rocket motor significantly damaged a standard bunker.
ATK's MRM projectile is the only smart munition in development by the U.S. Army that delivers a long-rod KE penetrator to beyond line-of-sight ranges. It incorporates lethality and gun-hardened rocket motor and electronics technologies developed under ATK's XM1007 and Tank Extended Range Munition (TERM) precision-guided munition programs that are compatible with 105mm and 120mm gun systems.
ATK Tactical Systems, Rocket Center, W. Va., is managing the MRM program, with ATK Tactical Systems-Clearwater Operations, Clearwater, Fla., responsible for development of the precision guidance. ATK Tactical Systems is an operating unit within ATK's Precision Systems Group.
"This program award demonstrates the Army's confidence in ATK's ability to provide an affordable, gun-hardened precision weapon with lethality and operational flexibility far superior to unguided munitions," said John Shroyer, president, ATK Tactical Systems.
The Mid-Range Munition is among the first in a line of precision munitions being developed for the U.S. Army's Future Combat Systems, a key element in the service's transformation to the more lethal and rapidly deployed Objective Force.
ATK's Precision Systems Group is involved in a broad set of programs that provide precision-fire and strike capabilities for ground, naval, and air forces.
ATK is a $2.1 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 12,000 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/
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The statements included in this news release regarding anticipated program schedules are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from anticipated results, including changes in governmental spending and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, the outcome of contingencies, including litigation and environmental remediation, program performance, and sales projections, in addition to other factors identified in ATK's filings with the Securities and Exchange Commission.
Source: Alliant Techsystems
CONTACT: Media, Rod Bitz, +1-952-351-3063, or rod_bitz@atk.com, or
Investors, Steve Wold, +1-952-351-3056, or steve_wold@atk.com, both of ATK
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