ATK Awarded $65 Million in Domestic and International Defense Contracts for Medium- and Large-Caliber Ammunition Production

ARLINGTON, Va., Oct. 14, 2014 /PRNewswire/ -- ATK (NYSE: ATK), a world-leading producer of ammunition, precision weapons and rocket motors, announced today that it has received $65 million in contracts for medium- and large-caliber ammunition. These awards provide training and tactical ammunition for air, land and sea platforms, and advanced capabilities for existing ground platforms, providing combat overmatch against current and future threats.

The contracts awarded include both domestic and international orders for 25mm, 30mm and 120mm tactical and training ammunition.

The contracts were awarded through U.S. Army Maneuver Ammunition Systems in its role as the Single Manager for Conventional Ammunition.

"The cornerstone of our business remains the production of proven tactical and training ammunition," said Dan Olson, vice president and general manager of ATK's Armament Systems division. "Also, providing advanced rounds such as programmable air bursting ammunition for platforms armed with our MK44Bushmaster^® Automatic Cannons enables superior warfighting capabilities for existing systems to defeat future threats without the requirement for new weapons and weapons platforms."

"ATK's broad ammunition expertise, proven through its production of millions of rounds and development of advanced capabilities, enables us to meet the continued demands of our customers," said Mike Kahn, president of ATK's Defense Group. "We are focused on providing both the U.S. military and our allies with safe, reliable and high-performing ammunition for everything from individual weapons to large-caliber tank rounds."

The large-caliber ammunition award included funding to deliver 120mm, M1002 Multi-Purpose Anti-Tank, Target Practice with Tracer, designed for use with the M1A1/A2 Abrams main battle tank. This award provides for the final year of a multi-year contract previously awarded to ATK for tank training ammunition.

Medium caliber orders included an international order for the MK310 Programmable Air Bursting Munition (ABM) with Tracer from the Belgian Army for use with their Piranha III combat vehicles outfitted with ATK-produced MK44 cannons with ABM fuze setting capability.

Additional orders include the 30mm PGU-13 High Explosive Incendiary (HEI) cartridge; the LW30mm M788 Target Practice and M789 High Explosive Dual Purpose tactical round; the 25mm M792 HEI-T using the ATK-developed self-destruct fuze; and the 25mm PGU-23 untraced target practice cartridge.

Ammunition production occurs at ATK-managed facilities located within Allegany Ballistics Laboratory in Rocket Center, West Virginia; Lake City Army Ammunition Plant in Independence, Missouri; and New River Energetics in Radford, Virginia. Program management for medium- and large-caliber ammunition is performed from ATK's Armament Systems division in Plymouth, Minnesota.

ATK's Defense Group is an industry leader in providing innovative and affordable ammunition, precision and strike weapons, electronic warfare systems, and missile components across air-, sea-, and land-based systems.

ATK is an aerospace, defense, and outdoor sports and recreation company with operations in 21 states, Puerto Rico, and internationally. News and information can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk, or on Twitter @ATK.

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.

SOURCE ATK

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