ATK Awarded $12 Million Contract to Deliver 30mm MK266 Ammunition to the U.S.
Ammunition Provides Superior Performance at Extended Ranges for San Antonio
Class Landing Platform Dock Ships and Littoral Combat Ships
ARLINGTON, Va., March 8, 2013
ARLINGTON, Va., March 8, 2013 /PRNewswire/ -- ATK (NYSE: ATK) announced today
the award of a first-year, $12 million contract to deliver 30mm MK266
ammunition to the U.S. Navy. This is a single award, firm-fixed-price,
five-year indefinite delivery indefinite quantity (IDIQ) contract for 30mm x
173mm, MK266 High Explosive Incendiary with Trace Cartridges in MK15 Linked
Belts. This multi-year contract has a potential value of $41 million should
all possible follow on contracts be awarded through 2018.
The ammunition is used with the MK46 Mod 2 Gun Weapon System, which is
composed of ATK's MK44, 30mm Bushmaster automatic cannon. This weapon system
arms the U.S. Navy's San Antonio class Landing Platform Dock (LPD) ships and
Littoral Combat Ships (LCS).
"We take great pride in developing and producing ammunition that provides
superior performance and reliability," said Bruce DeWitt, Vice President and
General Manager for ATK's Armament Systems division. "Our medium-caliber
expertise includes a full spectrum of highly effective and accurate tactical
ammunition for air, ground and sea platforms as well as cost-effective
training ammunition that provides a realistic experience for the warfighter."
The MK266 is a modification to the PGU-13 High Explosive Incendiary 30mm
round, accomplished by adding a tracer and ATK's Low Drag Fuze. The
non-self-destruct, Low Drag Fuze, produced exclusively by ATK, provides
superior performance at extended range. The MK266 rounds may also be used for
any cannon that fires 30mm x 173mm ammunition.
Program management for the MK266 is headquartered at ATK's Defense Group
facility located in Plymouth, Minn., while ammunition production activities
take place at Allegany Ballistics Laboratory in Rocket Center, W. Va. and New
River Energetics in Radford, Va. First-year production deliveries are
scheduled to begin in 2014.
The contract was awarded through the Project Manager Maneuver Ammunition
Systems (PM MAS) under its role as the Single Manager for Conventional
Ammunition (SMCA), which is responsible for the procurement of ammunition for
all the Armed Services.
ATK is an aerospace, defense, and commercial products company with operations
in 21 states, Puerto Rico, and internationally. 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.
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