ATK (NYSE: ATK) booked a $50 million follow-on contract modification to cover the Mortar Guidance Kit for the Army.
According to the firm, “the contract is in response to an Army urgent Operational Needs Statement and will mean more precision mortars going to U.S. forces in Afghanistan. ATK was previously awarded a contract in June 2010 to field an initial quantity of rounds under the Army’s ONS.”
“Delivering affordable precision is a core capability of our business, ” said Bruce DeWitt, ATK Advanced Weapons Vice President and General Manager. “Using our expertise in guidance, fuzing, and gun-hardened electronics, we have proven that the timeline and cost of producing a precision weapon can be greatly reduced. In under a year, we have proven a reliable design, initiated production and fielded a precision weapon. This is truly unprecedented in our industry.”