ATK Wins $102M Navy Guided Missile Order; Bill Kasting Comments

ATKATK (NYSE: ATK) has won a $102.4 million contract from the U.S. Navy to build guided missiles and training missiles.

The contract covers the second batch of Advanced Anti-Radiation Guided Missiles and Captive Air Training Missiles for the Navy, as well as two international governments, the company said Thursday.

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Italy will acquire the AARGM missiles and Australia will purchase the CATM missiles under the foreign military sales program.

Bill Kasting, vice president and general manager of ATK’s defense electronic systems division, said the contract marks the start of AARGM deliveries to foreign customers through the Defense Department‘s sales process.

AARGM missile systems are designed to help air forces gain situational awareness and destroy enemy air defenses, ATK says.

Australia is acquiring the CATM systems to train troops on the country’s fleet of EA-18G Growler jets.

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