BAE Systems and Olin Corporation's Winchester Division Form JV to Pursue Contract at Lake City Army Ammunition Plant
BAE Systems (OTC: BAESY) and Olin Corporation's (NYSE: OLN) Winchester Ammunition Division have announced that they have formed a joint venture to pursue the U.S. Army's contract to manage, operate and maintain the Lake City Army Ammunition Plant. Today, the new company, called U.S. Munitions, LLC, will submit a proposal for the contract, which has a potential value in excess of $2 billion in sales over 10 years.
U.S. Munitions combines the industry-leading capabilities of BAE Systems Ordnance Systems, a subsidiary of BAE Systems, Inc., and Winchester Ammunition, a division of Olin Corporation. U.S. Munitions provides world-renowned experience and expertise in facilities management and ammunition manufacturing for the U.S. military.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.