MINNEAPOLIS, Oct. 25 /PRNewswire/ -- ATK (NYSE: ATK) has received orders from the U.S. Army's Program Manager for Maneuver Ammunition Systems (PM-MAS) for nearly 300 million rounds of the new M855A1 Enhanced Performance Round (EPR). The EPR is an enhanced version of the M855 5.56mm cartridge, used by U.S. troops since the early 1980s. ATK is producing the new cartridge at the Lake City Army Ammunition Plant in Independence, Mo. ATK produced the initial 20 million rounds of M855A1, which were delivered to the troops in Afghanistan earlier this year.
"This is a significant breakthrough in ammunition performance for America's warfighters," said Mark Hissong, ATK Small Caliber Systems Vice President and General Manager. "To ensure optimal performance, ATK and the Army put the EPR through the most rigorous and thorough test regime of any round we have ever produced. The result is the successful fielding of a high-performance round that is in theater today, and capable of providing superior firepower in any combat condition."
ATK partnered with the Army to develop a flexible manufacturing plan to rapidly transition the EPR program into high-volume production. The new round offers a higher velocity for more energy on target, improved hard-target capability, and greater accuracy and consistency for effectiveness at long range. The round's technological advancements, coupled with ATK's innovative approach to ammunition engineering, have delivered what the Army calls "the most significant advancement in general purpose small caliber ammunition in decades."
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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.