The Largest Security-Cleared Career Network for Defense and Intelligence Jobs - JOIN NOW

Military

ATK Receives $7.7 Million Award For Illuminating Flares

Contract Value Now Exceeds $17 Million

Mar 11, 2004

Minneapolis, March 11, 2004 – ATK (Alliant Techsystems, NYSE: ATK) has received a $7.7 million contract extension from the U.S. Army Field Support Command at Rock Island, Ill., to build additional LUU-2C/B illuminating flares as part of ATK’s existing contract. The flares will be made at ATK Thiokol Propulsion’s Promontory, Utah, facility. Production will run through January 2005. The additional flare production increases the total contract value to more than $17 million.

The LUU-2C/B is the latest in a series of flares introduced by ATK Thiokol Propulsion for nighttime target illumination and rescue missions. It is compatible with all standard flare launching systems used on rotary- and fixed-wing aircraft and is accepted by the U.S. Navy for use on carrier-based aircraft.

ATK Thiokol Propulsion has produced free-fall and standoff visible illumination flares since the 1960s to provide illumination for nighttime operations.

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 12,600 people and has three business groups: Precision Systems, Aerospace, and Ammunition and Related Products. ATK news and information can be found on the Internet at www.atk.com.

Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: production timelines, 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. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, reference should be made to ATK’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.



NEWSLETTER
Join the GlobalSecurity.org mailing list