ATK and RUAG Aerospace Sign Teaming Agreement to Provide Upgrades for AIM-9P Sidewinder Missiles
Upgraded Missiles Offer Affordable Alternative to New Air-to-Air Missiles
MINNEAPOLIS and EMMEN, Switzerland, July 15 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) and RUAG Aerospace of Emmen, Switzerland have signed a teaming agreement to provide full-service and upgrade support of the AIM-9P-3/4/5 Sidewinder family of infrared air-to-air missiles. The agreement will provide the international user community with a primary point of contact for upgrading and extending the service life of existing inventory of AIM-9P missiles.
The new alliance will combine the existing capabilities of each company to provide expertise in upgrading the 9P's. ATK will supply new solid propellant rocket motors and RUAG will refurbish the guidance control sections and seekers. By upgrading their existing 9P's the international user community will get a product that will be useable beyond the year 2020, at a significantly lower cost than procuring new short-range air-to-air missile systems.
There are approximately 10,000 AIM-9P's in active status inventory worldwide and the missile remains an integral part of the defensive air-launched inventory of numerous allied nations.
"The teaming arrangement announced today offers the international user community a low-cost alternative to fielding a new short-range air-to-air missile without the added expense of aircraft modifications that would be required to fire the newer short-range alternatives," said Jack Cronin, President of ATK Mission Systems.
"As the sole source contractor for the United States Air Force in the field of Sidewinder AIM-9P depot level maintenance, RUAG Aerospace is fully committed to offering a cost effective option to extend the service life of existing AIM-9P Sidewinder missiles. This solution will enable sustainable savings to end users as well as an alternative to huge capital investment in replacement of air-to-air short range missiles and costly adaptation of front line aircraft," said Philipp Berner, Executive Vice President, RUAG Aircraft and Defence Systems.
ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states and $4.5 billion in revenue. News and information can be found on the Internet at http://www.atk.com/.
The RUAG technology group is an international aerospace and defence specialist with high technological skills. The group's holding is based in Berne (CH). RUAG has production sites in Switzerland, Germany and Sweden. Aviation & Space: RUAG is a leading supplier and integrator of systems and components for civil and military aerospace. RUAG is engaged in aircraft structure building as well as in maintenance and outfitting of aircraft and helicopters. Defence & Security: The company is the industry partner for the technical weapons and systems upgrade program of the Swiss Armed Forces. RUAG delivers and integrates weapon, command & control and simulation systems for armed forces and government agencies. Ammunition & Products: Also as a manufacturer of rimfire ammunition RUAG holds an internationally leading position. RUAG is an expert in high-precision manufacturing technologies for the aerospace and defence fields as well as for the automotive, semiconductor and mechanical engineering industries. RUAG's engineering skills provide the foundations of its dynamic role in development and production.
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 assumption that a teaming relationship will benefit the development of advanced missile platforms, 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.
ATK Media Contact:
Tom VanLeunen
Phone: 703-408-3026
E-mail: thomas.vanleunen@atk.com
ATK Investor Contact:
Steve Wold
Phone: 952-351-3056
E-mail: steve.wold@atk.com
RUAG Contact:
Hans E. Bryner
Phone: +41 412 684 195
E-mail: hans.bryner@ruag.com
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