ATK Receives $14 Million in Contracts for HELLFIRE Rocket Motors and Warheads
Battle-Proven HELLFIRE Relies on ATK Technology
ATK Has Delivered More Than 35,000 Rocket Motors Since the Program's Inception
MINNEAPOLIS, Dec. 28 /PRNewswire-FirstCall/ -- ATK (NYSE: ATK) has received two contracts valued at nearly $14 million to manufacture rocket motors and warheads for the precision-strike HELLFIRE® II missile. Both contracts were issued by Lockheed Martin (NYSE: LMT), the HELLFIRE prime contractor. ATK will manufacture approximately 2,800 rocket motors and 1,500 metal augmented charge (MAC) warheads at its manufacturing facility in Rocket Center, West Virginia.
The rocket motors and warheads will be fielded by U.S. forces as well as those of several allied nations. ATK initiated production of the rocket motors in August 2006 and will begin deliveries in January, 2007.
Production of the MAC warheads for the AGM-114N HELLFIRE began this past May. Initial deliveries began in September 2006. The N-model HELLFIRE has proven to be extremely effective against enemy personnel in enclosed structures, with minimal collateral damage.
"The reliable performance of the ATK motor is a critical element in HELLFIRE's mission success," said Ken Musculus, program director for Air-to- Ground Missile Systems (AGMS) at Lockheed Martin Missiles and Fire Control. "Our customer has told us that HELLFIRE had 100 percent mission success in more than 70 firings in the retaking of Tall 'Afar, Iraq, from insurgents in September 2005, playing an important role in the success of Operation Restoring Rights."
ATK has manufactured over 35,000 HELLFIRE motors since production began in 1987. In addition, ATK manufactures the copper liner for the main shaped- charge warhead for the high-explosive anti-tank (HEAT) HELLFIRE, the AGM-114K, as well as over 1,000 MAC warheads for the AGM-114N.
HELLFIRE can be launched from several rotary-wing aircraft, unmanned aerial vehicles, ground-based tripods, high-mobility multipurpose wheeled vehicles (HUMVEEs) and boats. HELLFIRE is effective against a wide variety of targets, including tanks, ships, bunkers, caves and buildings; and its precision-strike semi-active laser guidance minimizes collateral damage.
More than 3,000 HELLFIRE II rounds of all four versions -- HEAT, MAC, blast fragmentation (AGM-114M) and millimeter-wave Longbow (AGM-114L) -- have been fired successfully in the War on Terrorism.
ATK is a $3.4 billion advanced weapon and space systems company employing approximately 15,000 people in 22 states. News and information can be found on the Internet at http://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, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
ATK Media Contact: Bryce Hallowell Phone: 952-351-3087 E-mail: bryce.hallowell@atk.com ATK Investor Contact: Steve Wold Phone: 952-351-3056 E-mail: steve.wold@atk.com
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