ATK Wins Development Contract for 'Shredder'
Agent Defeat Munition Will Penetrate Hardened Targets
Aug 4, 2003
MINNEAPOLIS, Aug. 4 /PRNewswire-FirstCall/ -- ATK (Alliant Techsystems) (NYSE:ATK) announced today that it has received a $1.9 million research and development contract to provide the U.S. Air Force with a precision-guided penetrating bomb, Shredder, for testing. Shredder is a weapons system designed to neutralize chemical or biological Weapons of Mass Destruction (WMD) stored in hardened bunkers.
"WMD present war planners with numerous obstacles to safe and efficient neutralization," said Hubert Hopkins, president ATK Ordnance and Ground Systems. "The Shredder program will demonstrate the potential to provide the warfighter with an improved method of attacking these hardened facilities over conventional methods currently used."
The Shredder program will utilize inventory penetrator bomb cases. Shredder R&D will be conducted at ATK's Ordnance and Ground Systems division in Plymouth, Minnesota while ATK Tactical Systems will be responsible for the final load and delivery to Eglin Air Force Base, Florida.
ATK is a $2.2 billion aerospace and defense company with strong positions in propulsion, composite structures, munitions, precision capabilities, and civil and sporting ammunition. The company, which is headquartered in Edina, Minn., employs approximately 12,000 people and has three business groups: Aerospace, Precision Systems, and Ammunition and Related Products. ATK news and information can be found on the Internet at http://www.atk.com/.
Certain information discussed in this press release may constitute 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: unforeseen delays in NASA's Space Shuttle program, changes in governmental spending and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, the outcome of contingencies, including litigation and environmental remediation, program performance, and sales projections. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, reference should be made to ATK's filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.
Source: Alliant Techsystems
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