Drizzt
Member
PR Newswire
April 10, 2003, Thursday 9:01 AM Eastern Time
SECTION: FINANCIAL NEWS
DISTRIBUTION: TO BUSINESS EDITOR
LENGTH: 422 words
HEADLINE: ATK Awarded $30 Million Contract to Produce 5.56mm Frangible Ammunition
DATELINE: MINNEAPOLIS, April 10
BODY:
ATK (Alliant Techsystems, NYSE: ATK), the nation's largest manufacturer of ammunition, has been awarded a four-year contract worth $30 million from the Naval Surface Warfare Center, Crane Division, Crane, Ind., to produce 5.56mm frangible ammunition to meet U. S. Air Force and U. S. Marine Corps training requirements. The value of the first-year order under the contract is $11.6 million.
Frangible ammunition is designed to break apart into small pieces upon contact with hard targets to reduce ricochets and limit penetration. It is non-toxic and lead-free, eliminating hazardous exposure for the user and reducing environmental clean-up costs for training ranges.
Federal Cartridge Company, part of the ATK Ammunition Group, will produce the ammunition at its manufacturing facility in Anoka, Minn. The company also produces 12-gauge, 3-inch buckshot ammunition in support of the U. S. Marine Corps Combat Shotgun Program, as well as a full line of commercial ammunition for hunters and sporting enthusiasts.
"Our 5.56mm R2LP(R) (Reduced Ricochet Low Penetration) program is a successful new product development initiative that will provide our military and law enforcement customers with improved frangible ammunition," said Mark DeYoung, group vice president, Ammunition.
Federal Cartridge Company is one of five commercial businesses that form the Ammunition and Related Products operating unit within the Ammunition Group. The company provides small- caliber ammunition and related products to the military, law enforcement, and commercial markets.
The ATK Ammunition Group is the leading supplier of small-caliber and medium-caliber training and tactical ammunition to the U.S. Department of Defense, producing more than 1 billion rounds of .22 caliber, .45 caliber, 5.56mm, 7.62mm, .30-caliber, .50 caliber, 20mm, 25mm, and 30mm ammunition annually.
ATK is a $2.1 billion aerospace and defense company with leading positions in propulsion, composite structures, munitions, and precision capabilities. The company, which is headquartered in Edina, Minn., employs approximately 12,000 people and has three business groups: Aerospace, Precision Systems, and Ammunition. ATK news and information can be found on the Internet at www.atk.com.
April 10, 2003, Thursday 9:01 AM Eastern Time
SECTION: FINANCIAL NEWS
DISTRIBUTION: TO BUSINESS EDITOR
LENGTH: 422 words
HEADLINE: ATK Awarded $30 Million Contract to Produce 5.56mm Frangible Ammunition
DATELINE: MINNEAPOLIS, April 10
BODY:
ATK (Alliant Techsystems, NYSE: ATK), the nation's largest manufacturer of ammunition, has been awarded a four-year contract worth $30 million from the Naval Surface Warfare Center, Crane Division, Crane, Ind., to produce 5.56mm frangible ammunition to meet U. S. Air Force and U. S. Marine Corps training requirements. The value of the first-year order under the contract is $11.6 million.
Frangible ammunition is designed to break apart into small pieces upon contact with hard targets to reduce ricochets and limit penetration. It is non-toxic and lead-free, eliminating hazardous exposure for the user and reducing environmental clean-up costs for training ranges.
Federal Cartridge Company, part of the ATK Ammunition Group, will produce the ammunition at its manufacturing facility in Anoka, Minn. The company also produces 12-gauge, 3-inch buckshot ammunition in support of the U. S. Marine Corps Combat Shotgun Program, as well as a full line of commercial ammunition for hunters and sporting enthusiasts.
"Our 5.56mm R2LP(R) (Reduced Ricochet Low Penetration) program is a successful new product development initiative that will provide our military and law enforcement customers with improved frangible ammunition," said Mark DeYoung, group vice president, Ammunition.
Federal Cartridge Company is one of five commercial businesses that form the Ammunition and Related Products operating unit within the Ammunition Group. The company provides small- caliber ammunition and related products to the military, law enforcement, and commercial markets.
The ATK Ammunition Group is the leading supplier of small-caliber and medium-caliber training and tactical ammunition to the U.S. Department of Defense, producing more than 1 billion rounds of .22 caliber, .45 caliber, 5.56mm, 7.62mm, .30-caliber, .50 caliber, 20mm, 25mm, and 30mm ammunition annually.
ATK is a $2.1 billion aerospace and defense company with leading positions in propulsion, composite structures, munitions, and precision capabilities. The company, which is headquartered in Edina, Minn., employs approximately 12,000 people and has three business groups: Aerospace, Precision Systems, and Ammunition. ATK news and information can be found on the Internet at www.atk.com.
