ATK and Nitrochemie Form Strategic Alliance to Produce Advanced Propellants( Minneapolis and London, September 14, 2005 )
Atk To Lead North American Market Development Effort Designed To Give Existing Technology Increased Firepower
The Global Military Electro Optical Infrared (EO/IR) Systems Market 2015-2025
Alliant Techsystems (NYSE: ATK) and Swiss/German propellant manufacturer Nitrochemie have entered into a strategic alliance to market Nitrochemie’s advanced gun propellants in North America. Together, the companies will pursue opportunities in tactical and training tank ammunition, artillery rounds, mortars, and both medium-caliber and small-caliber ammunition. The agreement provides ATK exclusive rights to market, sell, and produce this technology in North America.
The agreement will expand ATK’s industry-leading portfolio of gun propellants to include Nitrochemie technology manufactured under license in its state-of-the-art facilities located in Switzerland. If the agreement results in the sales expected, ATK reserves the right to engage in a technology transfer that will permit future advanced propellant manufacturing at the Radford Army Ammunition Plant, Radford, Virginia, which ATK operates for the U.S. Army.
The agreement is in line with ATK’s operating philosophy of enhancing the capabilities of existing weapons and platforms by introducing new technologies that provide significantly increased performance. The new propellant technology ATK will market to its U.S. customers will help provide today’s ammunition and artillery shells longer range, greater precision and more lethal performance without incurring the costs associated with the development of an entirely new technology.
ATK is a $3.1 billion advanced weapon and space systems company employing approximately 14,500 people in 23 states. 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 and budgetary policies, economic conditions, equity market returns, the company's competitive environment, the timing of awards and contracts, and program performance. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and the statements contained herein, reference should be made to ATK’s filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K.
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : ATK