Alliant Techsystems, FN Manufacturing Win $53.4 Million Grenade Machine Gun Contract

Sep 30, 2008 (financialwire.net via COMTEX) -- ATK | Quote | Chart | News | PowerRating -- September 30, 2008 (FinancialWire) -- Alliant Techsystems (NYSE: ATK | Quote | Chart | News | PowerRating) (Current Market Cap: US$3.10 Bil.) and FN Manufacturing, LLC have received a $53.4 million contract from the U.S. Army to produce Mk19 Mod-3 grenade machine guns.

Under the award, ATK will lead an industry team that combines systems integration experience with small- and medium-caliber weapon manufacturing expertise. In addition to its role as systems integrator, ATK will perform barrel manufacture, gun assembly and test operations. FNMI will provide gun sub-assemblies.

Work on the Mk19 will be performed by ATK at its facility in Mesa, Arizona.

ATK currently manufactures 25mm through 40mm variants of its Bushmaster cannons and more than eight million rounds of medium-caliber ammunition per year. The cannons are sold in more than thirty countries and are the primary gun on Bradley fighting vehicles and the Apache helicopter for the U.S. Army.

Minneapolis-based Alliant Techsystems is an aerospace and defense company with more than 17,000 employees in 21 states and around $4.6 billion of posted revenue.

Columbia, South Carolina-based FN Manufacturing is a manufacturer specializing in the production of small arms weapons for the U.S. military and law enforcement markets. The company is a subsidiary of FN Herstal, S.A., and part of the Belgium-based Herstal Group.

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