ATK Awarded Five-Year FBI Ammunition Contract Valued at $95 Million
ATK 5.56 Caliber Ammunition Products Fulfill Duty and Training Requirements
FBI-Award Ammunition to be Manufactured at ATK's Facility in Anoka, Minn.
Nov 3, 2010
MINNEAPOLIS, Nov. 3, 2010 /PRNewswire/ -- ATK (NYSE: ATK) announced today that it has received a contract from the Federal Bureau of Investigation (FBI) for 5.56 caliber duty and training ammunition. The contract is a five-year, Indefinite Delivery/Indefinite Quantity (IDIQ) agreement with a maximum value of $95 million. ATK will produce the mission-specific ammunition at its facility in Anoka, Minnesota.
ATK used its core capability of ammunition technology development to create a customized solution to meet the needs of the FBI. The duty load is based on Federal Premium's 62-grain Tactical Bonded projectile, which excels at barrier penetration, while the training ammunition features 55-grain and 50-grain bullet options ideal for the needs of the Bureau. Production of the duty round was tailored to the specifications of the FBI and is already underway. Deliveries are expected to begin by the end of 2010.
"This contract is the result of a focused effort to expand our business in an important strategic market," said Ron Johnson, President of ATK's Security and Sporting group. "Our core ammunition technology provides the ideal platform for meeting this important customer need."
ATK is a premier aerospace and defense company with operations in 24 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 competitive ammunition technology 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:
Jason Nash
Phone: 800-322-2342 (ext. 3878)
E-mail: pressroom@atk.com
Investor Contact:
Jeff Huebschen
Phone: 952-351-2929
E-mail: jeff.huebschen@atk.com
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