ATK Receives $372 Million in Small Caliber Ammunition Orders
ATK Remains Largest Supplier of Small Caliber Ammunition to the Department of Defense
MINNEAPOLIS, May 3 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has received orders totaling $372 million to produce 5.56mm, 7.62mm and .50-caliber ammunition for the U.S. Army Contracting Command in Rock Island, Ill. This is the first significant order in the second year of a four-year contract, with additional orders expected during this fiscal year. ATK operates the Lake City Army Ammunition Plant (LCAAP) in Independence, Mo., where the rounds will be produced.
During the 10 years it has operated the plant, ATK has delivered more than 10 billion rounds of ammunition to the U.S. Army for use by all the military services, while successfully executing a $242 million modernization project to ensure the LCAAP remains a viable national asset.
"ATK has demonstrated the capability to support the tremendous increase in demand, while in parallel, modernizing the facility," said Mark Hissong, Vice President and General Manager of ATK Small Caliber Systems. "Our daily focus on continuous improvement in all of our processes has resulted in the world's best small caliber ammunition and a facility that will support the warfighter for years to come."
ATK is a premier aerospace and defense company with more than 18,000 employees 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: assumptions related to demand forecasts for small caliber ammunition and the ammunition's performance; 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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