ATK Receives Additional $38 Million Order for Main Battle Tank Ammunition Bringing Total to More Than $77 Million in FY06
ATK’s M829A3 Round Gives the U.S. Army’s Abrams Tank Overwhelming Lethality
Minneapolis, February 20, 2006 – Alliant Techsystems (NYSE: ATK) has received a follow-on contract from the U.S. Army to continue production of the 120mm M829A3 tank round. The value of the production year 4 award is approximately $38 million. Including a contract awarded earlier in the company’s fiscal year for production year 3, the total value of FY06 awards for M829A3 rounds is approximately $77 million. Under terms of the contract, ATK will manufacture the composite sabot; load, assemble and pack the round; and provide logistics support.
Used by the U.S. Army’s M1A1/A2 Abrams main battle tanks, the M829A3 is the most advanced armor-piercing, Kinetic Energy tank cartridge in the arsenal. Its state-of-the-art composite sabot, propellant, and penetrator technologies give it outstanding accuracy and lethality and are designed to ensure that U.S. armored forces maintain battlefield supremacy.
ATK is the sole source supplier of the M829A3 and will have delivered over 35,000 M829A3 units once PY4 is complete. Production of the M829A3 occurs at ATK’s manufacturing center of excellence in Rocket Center, West Virginia. Program management is headquartered in Plymouth, Minnesota. The company is the nation’s largest manufacturer of ammunition and it produces a complete family of tactical and training rounds for main battle tanks.
ATK is a $3.1 billion advanced weapon and space systems company employing 15,000 people in 23 states. 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, 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 ATK’s Annual Report on Form 10-K for the fiscal year ended March 31, 2005.
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- Bryce Hallowell
- ATK Corporate Communications
- Alliant Techsystems
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