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

Military

ATK Awarded Additional $140 Million Small-Caliber Ammunition Order

ATK Plans to Produce Record 1.2 Billion Rounds in 2004

Mar 26, 2004

Minneapolis, March 26, 2004 – ATK (Alliant Techsystems, NYSE: ATK), the nation’s largest supplier of ammunition, has received a $140 million order from the U.S. Army Joint Munitions Command (JMC), Rock Island, Ill., to supply small-caliber ammunition to the U.S. Department of Defense (DoD). The ammunition will be produced by ATK Lake City Small Caliber Ammunition Company, at the Lake City Army Ammunition Plant in Independence, Mo. This award is part of the government fiscal year 2004 production contract, which is issued incrementally throughout the year.

ATK said it is on track to produce approximately 1.2 billion rounds in 2004 at Lake City, a record volume under its 10-year production contract. ATK, in cooperation with the Army, has accomplished significant steps to increase production capability and capacity at Lake City.

Mark DeYoung, group vice president, Ammunition and Related Products said, "We are a proud member of the Army’s team in establishing improved capability for our nation’s ammunition. Our productive partnership with the Army has created a reliable source of small caliber ammunition and metallic links to meet the military’s growing demand.

"ATK’s workforce at Lake City consists of 1,800 dedicated men and women who are proud to support our troops and are committed to meeting the military’s changing needs through an active partnership focused on quality, delivery, and value."

ATK Lake City Small Caliber Ammunition is one of five operating units within ATK’s Ammunition and Related Products Group, which produces more than 4 billion rounds of small and medium caliber ammunition annually. The group will contribute approximately 33 percent of ATK’s revenue for the fiscal year ending March 31, 2004.

ATK is a $2.2 billion aerospace and defense company with strong positions in propulsion, composite structures, munitions, precision capabilities, and law enforcement and sporting ammunition. The company, which is headquartered in Edina, Minn., employs approximately 13,200 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: 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