ATK Secures 300 Win. Magnum Ammunition Contract with U.S. Army

ARLINGTON, Va., May 12, 2014 /PRNewswire/ -- ATK (NYSE: ATK) announced it was awarded a Fixed Price Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Army for the production of Mk248 Mod 0, 190-grain and Mk248 Mod 1, 220-grain 300 Win. Magnum (Win Mag) rifle ammunition.  The Army has selected this ammunition for primary use in its M2010 Sniper rifle.

The five-year 300 Win Mag ammunition contract is in its first year. The contract has a total of five 12-month ordering periods. This award has an estimated maximum value of $20 million over the life of the contract, and an initial delivery order for the ammunition was received at the time of the award.

"ATK is committed to providing advanced, affordable and mission-critical solutions to our nation's warfighters," said ATK's Sporting Group President Jay Tibbets. "We are proud the U.S. Army has selected our 300 Win Mag ammunition. These products are highly engineered and manufactured with stringent quality assurance processes to ensure optimum performance."

The U.S. Army Contracting Command - Rock Island is the procuring office for this award, with program oversight being provided by the Project Manager Maneuver Ammunition Systems. The ammunition will be manufactured at ATK's Anoka, Minnesota, Federal Premium^® Ammunition factory.

ATK is an aerospace, defense and commercial products company with operations in 22 states, Puerto Rico and internationally. News and information can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk or on Twitter @ATK.

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.

SOURCE ATK