ATK Receives $15 Million in 30mm Automatic Cannon Orders From International Customers
May 22, 2007
Four Countries Join Growing List Adopting Latest Gun Technology
Order Includes First International Sale of ATK's Air Burst Munition Technology
MINNEAPOLIS, May 22 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has received nearly $15 million in orders for its Mk44 Bushmaster automatic cannon from four international customers. Each of the countries, including Portugal and Slovenia, are buying this latest-generation gun technology for the first time. The orders are for a mix of vehicle-based and naval applications.
ATK's Mk44 is the gun system of choice for many of the world's medium-caliber fighting platforms -- including ground vehicles, surface warfare ships and aircraft. The Bushmaster cannons are battle-proven gun systems that offer the effectiveness and reliability the warfighter needs, as well as lower operating costs than the competition.
The Mk44's dual-feed Chain Gun technology allows the gunner to switch between different types of ammunition instantaneously. The Mk44 can fire all types of 30mm x 173mm ammunition including the new Air Bursting Munition (ABM) ATK is developing for the United States Navy and Marine Corps. It also easily converts to fire Super Forty 40mm ammunition for enhanced performance; thereby offering significant embedded growth capability over competing systems.
One European customer's Mk44's will be equipped with the ABM fire control system that allows the operator to program each round to detonate at a particular point down range. This gives the gunner the ability to defeat targets behind walls, around corners and in challenging environments; thereby offering significant new options to the warfighter.
ATK is a $3.5 billion advanced weapon and space systems company employing approximately 15,500 people in 21 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 foreign government spending patterns, 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.
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