ATK Receives $415.6 Million in Military Small-Caliber Ammunition Orders and Modernization Funding
Modernization will Ensure Continued Improvement and Reliability of the Lake City Army Ammunition Plant
ATK on Track to Deliver 1.4 Billion Military Small-Caliber Rounds in Fiscal 2009
MINNEAPOLIS, April 7, 2008 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK), the largest supplier of ammunition to the United States military, has received an additional $415.6 million in military small-caliber ammunition orders and modernization funding for the Lake City Army Ammunition plant. The contracts were awarded by the U.S. Army Sustainment Command, Rock Island, Ill.
In fiscal year 2008 ATK delivered 1.4 billion rounds of military small caliber ammunition, and expects to deliver roughly the same amount in FY09. ATK operates the U.S. Army's Lake City ammunition plant in Independence, Mo., where it produces a mix of 5.56mm, 7.62mm, .50-caliber and 20mm cartridges. Working in partnership with the Army, ATK has expanded the manufacturing capacity at the facility to 1.6 billion rounds and has continued to modernize the WWII-era plant.
"We are proud of the role we play in supporting the men and women in uniform," said ATK Armament Systems President Mark DeYoung, "and we're grateful to have the opportunity to continue to provide them with high quality ammunition they can count on."
ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states and over $4.1 billion in revenue. 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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