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Orbital ATK Secures $121M Navy Contract Modification for HARM Missile Conversion

Orbital ATKThe U.S. Navy has awarded an Orbital ATK (NYSE: OA) business unit a $121.4 million contract modification to exercise an option to convert AGM-88B High-Speed Anti-Radiation Missiles into 145 Lot 5 full-rate production, anti-radiation guided missile all-up-rounds.

Orbital ATK’s defense electronic systems unit will also provide 12 captive air training missiles along with associated supplies and services in support of missile manufacturing, sparing and deployment for the Navy and the Italian government, the Defense Department said Monday.

Naval Air Systems Command will obligate the full amount from fiscal 2015 and 2016 weapons procurement funds and funds from international partners for work to be done at two facilities in California through September 2018.

Navy and U.S. Air Force troops utilize the AGM-88 HARM missiles to engage and destroy radar-equipped enemy air defense systems.

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