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ATK to Build Army Small-Caliber Rifle Ammo for $387M; Kent Holiday Comments

ATKATK (NYSE: ATK) has been awarded $387 million in orders by the U.S. Army to produce three types of small-caliber rifle ammunition.

These orders are part of contracts that cover the next seven years and could extend for up to 10 years, the company said Monday.

The company will produce the 5.56-millimeter, 7.62-millimeter and .50-caliber ammunition at the Lake City Army Ammunition Plant in Independence, Mo.

“Our vision for Lake City is a highly-efficient production facility that is lean, scalable and sustainable for the next generation of the nation’s warfighters, ” said Kent Holiday, vice president and general manager of ATK’s small caliber systems division.

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