MINNEAPOLIS, April 13, 2011 /PRNewswire/ -- ATK (NYSE: ATK) announced today a total of $33.5 million in new medium caliber cannon orders. The contracts, from a mix of European and Middle East/North Africa (MENA) Region customers, will expand ATK's production of its battle-proven M242 and Mk44 Bushmaster® Chain Guns® in support of allied forces worldwide.
ATK's Mesa, Ariz. facility will manufacture both the 25mm M242 and the 30/40mm Mk44 automatic cannons. ATK medium caliber cannons are sold in more than 30 countries world-wide and are the primary gun systems for the Bradley Fighting Vehicle, the Light Armored Vehicle, the Apache Attack Helicopter, and coastal patrol craft. More than 11,000 25mm M242s are in service worldwide. The 30/40mm Mk44 has become the weapon of choice for the world's medium caliber fighting platforms – including ground combat vehicles, naval and aircraft applications.
"ATK has long been a leader in providing affordable and proven medium caliber gun systems to the U.S. Armed Forces and our allies," said Dan Olson, Vice President and General Manager, ATK Integrated Weapon Systems. "These awards support our focus on international growth and help sustain ATK's market leading position in the development and manufacturing of quality medium caliber guns systems."
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: the challenges of international cannon sales; assumptions related to the market position of ATK's international cannon business; 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.