ATK Receives a Fourth Contract Option for Continued Production of 30mm PGU Ammunition
ATK's Domestic and International Awards for 30mm Ammunition Exceed $29 Million in FY12
Feb 29, 2012
ARLINGTON, Va., Feb. 29, 2012 /PRNewswire/ -- ATK (NYSE: ATK) was recently awarded a fourth contract option to produce 30mm PGU-15A/B cartridges for the U.S. Army Contracting Command, Rock Island Contracting Center (RICC), Rock Island, Ill. The order is a part of a multi-year contract originally signed in July 2007. ATK's worldwide sales of 30mm ammunition in the current fiscal year now exceed $29 million.
ATK's 30mm PGU-series target practice ammunition is specially designed for training applications. These cartridges, currently in use with the 30mm GAU-8/A Gatling gun on the U.S. Air Force A-10 Warthog close-support aircraft provide cost-effective, ballistic-matched training rounds for improved warfighter performance.
"We are proud to continue our role as the primary provider of PGU-15 ammunition in support of the U. S. Air Force's A-10 aircraft," said Dan Olson, Vice President and General Manager, ATK Integrated Weapon Systems. "This round plays an integral role in training A-10 aircrews to develop and maintain essential air-to-ground combat skills. ATK supports this program through the delivery of high quality products, outstanding value and great customer service."
ATK's Mesa, Ariz.-based Integrated Weapon Systems division will produce the rounds at its facilities in Radford, Va. and Rocket Center, W. Va. Delivery of the optioned rounds is set to begin this year.
ATK is an aerospace, defense, and commercial products company with operations in 22 states, Puerto Rico, and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at 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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