ATK Awarded Contract to Produce Medium-Caliber Ammunition; Contract Value Exceeds $6 Million
Jun 3, 2003
MINNEAPOLIS, June 3 /PRNewswire-FirstCall/ -- ATK (Alliant Techsystems) (NYSE:ATK) , the nation's largest manufacturer of ammunition, has been awarded a one-year contract from the U.S. Army Joint Munitions Command, Rock Island, Ill., to produce lightweight (LW) 30mm M789 High Explosive Dual Purpose (HEDP) tactical ammunition. The contract falls under the management responsibility of the Program Executive Office for Ammunition and its Project Manager for Maneuver Ammunition Systems, Picatinny Arsenal, N.J.
The total contract value, which is subject to negotiation, exceeds $6 million. The contract will support the manufacture of LW30mm M789 cartridges, as well as the continued production of the M759 mechanical fuze produced exclusively by ATK for the U.S. Army and allied nations.
ATK Ammunition Systems, Arden Hills, Minn., will manage the contract and produce the fuze and projectile assemblies. The rounds will be assembled at the New River Energetics load, assembly, and pack facility in Radford, Virginia. Both companies are business units of ATK Ammunition and Powder, which operates the Radford Army Ammunition Plant.
Pat Nolan, president, ATK Ammunition and Powder, said the design, development, and high-volume production of medium caliber ammunition is one of the company's most important core businesses.
"We have a long and proud history of providing the U.S. armed forces and allied nations with high-quality, repeatable medium-caliber ammunition," said Nolan. "A critical element of this contract is the preservation of our unique mechanical fuze capability for this round in the near term. The contract will assure the government's ability to procure additional LW30 ammunition in FY04 and beyond."
ATK Ammunition and Powder is one five operating units within ATK's Ammunition and Related Products Group, which is headquartered in Anoka, Minn.
ATK is a $2.2 billion aerospace and defense company with strong positions in propulsion, composite structures, munitions, precision capabilities, and civil and sporting ammunition. The company, which is headquartered in Edina, Minn., employs approximately 12,000 people and has three business groups: Aerospace, Precision Systems, and Ammunition and Related Products. ATK news and information can be found on the Internet at http://www.atk.com/
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The forecasts, projections, and expectations for the anticipated contract value in this news release are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve 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, Bryce Hallowell, +1-952-351-3087, or
bryce_hallowell@atk.com, or investors, Steve Wold, +1-952-351-3056, or
steve_wold@atk.com, both of Alliant Techsystems
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