ATK Receives $9 Million U.S. Air Force Contract to Develop Hard Target Void Sensing Fuze for the BLU-109 and BLU-113 Penetrating Munitions
Total Program Value Could Exceed $250 Million
ATK's Heritage Hard Target Defeat Fuze Development Programs Form Foundation for New Technology
MINNEAPOLIS, April 23 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has received a nine million dollar contract from the U.S. Air Force to develop a Hard Target Void Sensing Fuze (HTVSF) under the Joint Capabilities Technology Demonstration (JCTD) program. The contract was awarded by the Air Armament Center, Eglin AFB, Fla. The JCTD program will span 27 months and cover the design, testing, and demonstration of ATK's HTVSF against specified Air Force requirements. If ATK is selected to complete all phases of the program, System Demonstration and Development (SDD), and full- rate production, the company believes the value of the program could exceed $250 million.
The HTVSF is a cockpit programmable system that will provide multi-delay arming and detonation, as well as a void sensing function, for the BLU-113 or BLU-109 weapon to penetrate and destroy hardened targets.
ATK is an industry leader in advanced fuze technology. The company's all- electronic HTVSF design builds on this extensive design experience and production expertise and incorporates advanced impact-hardened electronics technology to offer the warfighter unprecedented capability against the most sophisticated buried targets.
"ATK has been developing hard target defeat fuze technology for nearly a decade," said Bart Olson, Vice President and General Manager, ATK Tactical Propulsion and Controls division. "By taking the best attributes from our previous programs and applying the latest technologies, we will deliver a fuze that puts unprecedented precision into the hands of our warfighters," he added.
ATK was one of two contractors awarded a contract for the JCTD phase. Following the JCTD phase of the program, the Air Force will down-select to one contractor who will be awarded a follow-on SDD contract valued at approximately $40 million. The SDD phase will be followed by the low-rate initial production phase and will transition into full production in the 2013 time frame.
ATK will perform the design work and testing of the HTVSF at its Plymouth, Minn. facility. Fuze production will occur at ATK's manufacturing center of excellence in Rocket Center, W.Va.
ATK is a premier advanced weapon and space systems company with annual revenues in excess of $4.1 billion that employs approximately 17,000 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: the difficulties associated with the development of advanced weapon programs; 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: Investor Contact: Tracy Imm Steve Wold Phone: 410-864-4824 Phone: 952-351-3056 E-mail: tracy.imm@atk.com E-mail: steve.wold@atk.com
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