• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

ATK Receives Additional $49 Million in Modernization Project Funding for the Lake City Army Ammunition Plant

Posted on: Monday, 26 January 2009, 07:30 CST

Funding Improves Efficiency and Helps Ensure Long-Term Viability of Facility

MINNEAPOLIS, Jan. 26 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK) has received an additional $49 million from the U.S. Army Sustainment Command in Rock Island, Ill. for critical modernization projects at the Lake City Army Ammunition Plant (LCAAP) in Independence, Mo.

An operator of the LCAAP since 2000, ATK has successfully partnered with the U.S. military to modernize the facility and expand the manufacturing capacity and capabilities of the plant. ATK is the largest supplier of ammunition to the United States military, producing a mix of 5.56mm, 7.62mm, .50-caliber, and 20mm cartridges. The company remains on track to deliver 1.4 billion rounds of ammunition in FY09.

"Our proven capability in facility management and our commitment to Lean/Six Sigma disciplines provide innovative and cost-effective solutions to the Army as we modernize Lake City," said Mark DeYoung, president, ATK Armament Systems. "This facility was built in 1941. The Army's commitment to ensure the long-term viability of the plant and partner with ATK has resulted in improved ammunition quality and enhanced operational safety."

ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states and approximately $4.6 billion in revenue. 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.

Media Contact: Investor Contact: Amanda Covington Jeff Huebschen Phone: 801-779-4625 Phone: 952-351-2929 E-mail: amanda.covington@atk.com E-mail: jeff.huebschen@atk.com

SOURCE ATK

Source: PR Newswire

More News in this Category