ATK Announces $178M Contract Award from United Launch Alliance to Build Composite Launch Vehicle Structures
ATK (NYSE: ATK) has reached agreement on a $178 million contract award as part of the Air Force's Phase 1 Evolved Expendable Launch Vehicle (EELV) buy from United Launch Alliance (ULA). The order value includes hardware for both of the current United States Air Force EELV launch vehicles, the Atlas V and Delta IV. The initial contracting period includes large composite structures with deliveries commencing in AFY14 and continuing into early AFY18. The option period includes hardware deliveries in AFY17 through AFY19.
"ATK's continued involvement in the Atlas V and Delta IV launch vehicles is a strong demonstration of our workforce's engineering and manufacturing abilities," said Joy de Lisser, vice president and general manager of ATK's Aerospace Structures division. "Our ongoing support of ULA missions is a critical element of our business, and we are proud to provide support for these successful programs."
The order consists of a variety of composite structures 13 to 18 feet in diameter with lengths up to 63 feet, including fairings, payload adapters and diaphragms, interstages, nose cones and structures providing main engine thermal/aerodynamic protection. All of the structures will be fabricated in ATK's Large Structures Center of Excellence (COE) in Iuka, Miss., employing advanced fiber placement and hand lay-up processes, automated machining and ultrasonic inspection techniques.
The Large Structures COE boasts more than 320,000 square feet of manufacturing floor space, including 86,000 square feet of clean room facility, which houses some of the largest specialized processing equipment of its kind in the United States.
ATK is an aerospace, defense, and commercial products company with operations in 22 states, Puerto Rico, and internationally. News and information can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk, or on Twitter @ATK.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.
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