ATK Receives $12 Million 30mm Ammunition Contract
Contract Could Grow to More Than $22 Million
May 3, 2004
Minneapolis, May 3, 2004 – ATK (Alliant Techsystems, NYSE: ATK) has received a contract exceeding $12 million from the U.S. Army Field Support Command, Rock Island, Ill., for 30mm PGU-15 Target Practice (TP) ammunition. With options, the contract value could surpass $22 million.
Used primarily by A-10 Thunderbolt II "Warthogs," the PGU-15 TP ammunition is used to train aircrews in the use of the GAU-8/A cannon.
Wayne Farley, president, ATK Ammunition and Powder said, "The PGU-15 matches the ballistics of the tactical ammunition currently used in combat operations and provides pilots with a realistic and low-cost training solution."
The PGU-15 TP can also be fired from ATK’s MK44 Chain Gun. Both are in use on the Marine Corps Expeditionary Fighting Vehicle and the gun system is a leading candidate for the Army’s Future Combat System.
Production of the PGU-15 is taking place at ATK facilities in Arden Hills, Minn., and Rocket Center, W.Va. Final assembly, load, and pack will be completed by ATK at the Radford, Va., Army Ammunition Plant.
ATK is a $2.3 billion advanced weapons and space systems company employing 13,200 people in 21 states. 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 training doctrine, 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.
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