ATK Earns Contract Extension and Expansion on A350 XWB Program
ARLINGTON, Va., Oct. 22, 2012 /PRNewswire/ – ATK (NYSE: ATK) has entered into a contract extension through 2027 for its work providing lightweight composite fuselage stringers and frames for the Airbus A350 XWB program. In addition, ATK’s contract includes increased scope for design changes and added manufacturing operations. This project expansion is a significant milestone for ATK and represents a continuation of the valuable working relationship ATK has developed with Airbus and its partners, Aerolia SAS and Premium Aerotec GmbH, part of the EADS group.
“We are very pleased to have reached this agreement with Airbus,” said Joy de Lisser, vice president and general manager of ATK’s Aerospace Structures Division. “This marks another big step in our long-term partnership with Airbus on the A350 XWB program. We are very proud of the trust and level of accomplishment that this extension represents.”
The A350 XWB work is performed at ATK’s Aircraft Commercial Center of Excellence (ACCE) facility in Clearfield, Utah. The extended work includes the potential of up to an additional 800 ship-sets of production, creating a long-term relationship between Airbus and ATK.
ATK’s proprietary automated stiffener forming machines (ASFM) have been instrumental in the development and manufacture of composite stringers and frames. The Company’s ASFM process enables ATK to produce extremely high quality, dimensionally precise and highly repeatable composite components for all stringers and frames needed in the fuselage, while reducing manufacturing time over traditional hand lay-up methods.
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: future levels of business in the aerospace and commercial transport industries or in the number of aircraft to be built; the success and timely progression of our customers’ new programs; the success and timely execution of key certification and delivery milestones; the company’s competitive environment; 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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