ATK and Lockheed Martin Sign Letter of Agreement for Composite Production on the F-35 Lightning II
ATK WILL PROVIDE AT LEAST 30 PERCENT OF THE FIBER PLACED COMPOSITE COMPONENTS FOR INITIAL F-35 PRODUCTION WINGS
ATK HAS INTERNALLY DEVELOPED ADVANCED FIBER PLACEMENT TECHNOLOGY
MINNEAPOLIS and PARIS, June 20 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has signed a Letter of Agreement (LoA) with Lockheed Martin (NYSE: LMT) to produce fiber placed components for low-rate initial production (LRIP) on the F-35 Lightning II, also known as the Joint Strike Fighter. Specific terms of the agreement were not disclosed.
Under the terms of the LoA, ATK will use advanced fiber-placement technology to provide upper wing-box skins, lower wing-box skins, and nacelle skins during LRIP lots one through three for the conventional-takeoff-and- landing and short-takeoff/vertical-landing variants of the F-35. ATK also will provide: upper wing-box and nacelle skins for the F-35 carrier variant. Beginning with LRIP lot four, ATK is under contract to supply Lockheed Martin with a minimum of 30 percent of the total fiber-placed composite components used in wing production.
"The F-35 is the most advanced manned aircraft under development for U.S. and allied nations and ATK is proud of the role we will play as it enters service," said Mark Messick, Vice President and General Manager, ATK Aerospace Structures. "This is a significant, long-term agreement that will provide steady revenues and showcase ATK's unmatched fiber placement technology."
The F-35 is a supersonic, multi-role, 5th generation stealth fighter designed to replace a wide range of existing aircraft, including AV-8B Harriers, A-10s, F-16s, F/A-18 Hornets and United Kingdom Harrier GR.7s and Sea Harriers.
As an industry leader in the design, development and production of composite component technologies, ATK will work closely with Lockheed Martin to ensure that the F-35 meets a wide range of mission requirements for government customers. Work under the agreement will take place at ATK's Clearfield, Utah and Rocket Center, WV facilities.
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.
Media Contact:
Bryce Hallowell
Phone: 952-351-3087
E-mail: bryce.hallowell@atk.com
Investor Contact:
Steve Wold
Phone: 952-351-3056
E-mail: steve.wold@atk.com
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