ATK Wins Production Contract for US Navy's Multi-Option Fuze
ATK (NYSE: ATK) announced that it received a five-year, Indefinite Delivery, Indefinite Quantity (IDIQ) contract from the U.S. Army Contracting Command for the production of the MK 437 Multi-Option Fuze, Navy (MOFN). The contract has a maximum total value of $84.1 million. ATK has received the first order on this contract, for approximately $13 million. Deliveries are scheduled to begin in November 2013.
The MOFN increases the overall mission capability of 5-inch gun ammunition used on U.S. Navy ships by providing proximity, precision time, delay and point detonating impact functions in a single fuze. The inductive fuze setting feature also optimizes MOFN for use with automated ammunition handling equipment. MOFN will be used on projectiles fired in the MK 45 Single Lightweight Gun Mount on U.S. Navy cruisers and destroyers.
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