MINNEAPOLIS, May 2, 2011 /PRNewswire/ -- ATK (NYSE: ATK) has received awards totaling $13.4 million in new 25mm tactical ammunition contracts. The awards, received from a mix of allies in the Middle East and North Africa (MENA) region, reinforce ATK's position as a preferred, global provider of medium-caliber ammunition.
ATK is the leading supplier of 25mm tactical munitions used by U.S. and allied forces globally, including the contracted M792 HEI-T (High Explosive Incendiary round with Tracer). Delivery of the NATO-certified 25mm M792 rounds is set to begin in March 2012, with production taking place in the company's facilities in Radford, Va. and Rocket Center, W.Va. The rounds are built with a self-destruct fuze developed and produced exclusively by ATK and are designed for use in ATK's widely-embraced M242 Bushmaster® Chain Gun®.
"M792 rounds have a longstanding reputation as a reliable tool in the defense of critical assets globally," said Dan Olson, Vice President and General Manager, ATK Integrated Weapon Systems. "These orders support ATK's position as a global leader in medium-caliber ammunition."
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 ammunition sales; 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.