ATK Receives $18 Million Rolling Airframe Missile Contract
NEW ROCKET MOTOR WILL EXTEND MISSILE RANGE AND IMPROVE DEFENSE CAPABILITIES OF U.S. AND ALLIED NATION SHIPS
MINNEAPOLIS, June 18 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has received an $18-million contract to upgrade the solid propellant rocket motor of Raytheon's (NYSE: RTN) Block 2 Rolling Airframe Missile (RAM). RAM provides U.S. Navy surface ships with a lightweight, low- cost, self-defense system to defeat incoming anti-ship cruise missiles, as well as helicopter, airplane, and surface threats. Work on the RAM Block 2 rocket motor system design and development (SDD) contract will be performed by ATK at its manufacturing center of excellence in Rocket Center, West Virginia.
Under terms of the contract, ATK will design, develop and test a boost/sustain rocket motor that extends the missile's range and provides the basis for improved maneuverability, ultimately affording the weapon system significant new performance capabilities. The new rocket motor's graphite fiber composite case will minimize overall missile weight and allow it to withstand the high G-force maneuvers required to defeat advanced anti-ship cruise missiles and other evolving threats. ATK will increase the diameter of the RAM motor from the current 5-inch design to 6.25-inches, allowing the missile to carry the additional propellant required for extended range.
ATK has produced more than 1,500 propulsion systems for current versions of the RAM, which are deployed on ships of the United States, German and Greek navies, and provide fleet protection for ships of all sizes. ATK is a $3.9 billion advanced weapon and space systems company employing approximately 16,500 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 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.
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