ATK Signs Agreement With Lockheed Martin to Supply Composite Components for A2100 Communications Satellites
Five-year Total Value Could Exceed $80 Million
Jan 21, 2004
Minneapolis, Jan. 21, 2004 – ATK (Alliant Techsystems, NYSE: ATK) has signed an agreement with Lockheed Martin Commercial Space Systems, Newtown, Pa., to supply composite satellite components for the company’s A2100 communications satellite series. The five-year agreement has the potential to grow beyond $80 million of new business.
Work on the contract will be performed at ATK’s Composite Optics Inc. (COI) facilities in San Diego, Calif. and Salt Lake City, Utah.
James Gormican, president, COI, said the new agreement with Lockheed Martin is consistent with the company’s plan to organically grow the commercial sector of its business as the global market for commercial satellites rebounds in the coming years.
"We believe the satellite industry in general is making a turn for the better and ATK is solidly positioned to capture growth opportunities as the demand increases," said Gormican.
The agreement calls for ATK to provide reflectors, satellite bus structures, standard antenna support structures, solar array substrates for power generation, as well as yokes and booms.
ATK is a $2.2 billion aerospace and defense company with strong positions in propulsion, composite structures, munitions, precision capabilities, and civil and sporting ammunition. The company, which is headquartered in Edina, Minn., employs approximately 12,600 people and has three business groups: Precision Systems, Aerospace, and Ammunition and Related Products. ATK 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: unforeseen delays in satellite launch schedules and the health of the satellite launch industry, economic changes, changes in governmental spending and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, the outcome of contingencies, including litigation and environmental remediation, program performance, and sales projections. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, reference should be made to ATK’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.
|Join the GlobalSecurity.org mailing list|