ATK Receives $80 Million Order for MK90 Propellant Grains
MINNEAPOLIS, April 28, 2011 /PRNewswire/ — ATK (NYSE: ATK) has received an $80 million order from General Dynamics Armament and Technical Products for production of the MK90 propellant grain.
“We are pleased to have this opportunity to continue our longstanding tradition of production excellence on the MK90 propellant grain,” said Kent Holiday, ATK Energetic Systems Vice President and General Manager. “We have made this propellant grain, or its predecessor design, for many years, and look forward to continuing to meet the needs of our customer and the ultimate end-user – the warfighter, with an affordable and reliable product.”
The MK90 propellant grain provides propulsion for the MK66 rocket motor, a key element of the Hydra 70 rocket system. The Hydra 70 rocket system is used on a variety of fixed-wing and rotary-wing platforms, including the AH-64 Apache, the UH-60 Black Hawk, and the A-10, and has been used extensively in both Iraq and Afghanistan.
ATK manufactures the MK90 propellant grain using a unique rolling method and extrusion process, which assures a safe, low-cost, and dependable propulsion solution. The grain incorporates a minimum smoke, double-base, low-signature formulation, and is used in all Hydra 70 rocket systems.
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: 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.
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