MINNEAPOLIS, April 12, 2011 /PRNewswire/ -- ATK (NYSE: ATK) has been awarded a $49.9 million contract option from the U.S. Army Contracting Command, Rock Island Contracting Center, Rock Island, Ill., to produce Light Weight (LW) 30mm M789 High Explosive Dual Purpose (HEDP) ammunition.
The M789 round is fired by ATK's M230 Chain Gun®, in use on the U.S. Army's AH-64 Apache Attack Helicopters. Delivery of the optioned rounds is set to begin in September 2012, with production taking place in the company's facilities in Radford, Va. and Rocket Center, W.Va.
"The dual-purpose M789 round provides the firepower necessary to penetrate armor while maintaining its high-explosive capability for use against soft targets," said Dan Olson, Vice President and General Manager, ATK Integrated Weapon Systems. "This versatility has made it a highly-effective combat round, and it is currently supporting operations in Iraq and Afghanistan."
ATK provides affordable, precision, medium-caliber cannons; advanced fire control systems for ground, sea, and air platforms; and produces more than eight million rounds of medium caliber ammunition per year.
ATK is an aerospace, defense, and commercial products company with operations in 23 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 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.