ATK Awarded Tank Ammunition Contracts Worth $113 Million
Feb 12, 2003
MINNEAPOLIS, Feb. 12 /PRNewswire-FirstCall/ -- ATK (Alliant Techsystems) (NYSE:ATK) has been awarded contracts with a combined value of $113 million to produce 120mm training and tactical ammunition used by the Abrams main battle tank. The contracts are:
-- Two awards worth $79 million from the Joint Munitions Command, Rock Island, Ill., to produce training ammunition and provide logistics support for the ammunition. Deliveries are slated to begin in November 2003 and continue through October 2004.
-- A $34 million award from the U.S. Army Armament Research, Development, and Engineering Center, Picatinny Arsenal, N.J., to produce tactical ammunition for the U.S. Marine Corps. Deliveries under the contract will continue through October 2004.
ATK Ammunition Systems, Arden Hills, Minn., is the systems manager for the contracts.
The nation's largest manufacturer of ammunition, ATK produces a complete family of tactical and training rounds for main battle tanks. The company also is developing the U.S. Army's next-generation combat and training ammunition for the Abrams tank.
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 at http://www.atk.com/
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The statements included in this news release regarding anticipated program delivery 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, rod_bitz@atk.com, or
Investors, Steve Wold, +1-952-351-3056, steve_wold@atk.com, both of Alliant Techsystems
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