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ATK Announces Senior Executive Transition and Interim Appointment

ATK

MINNEAPOLIS, Minn --(Ammoland.com)-ATK (NYSE: ATK) announced today that effective August 8, Tom Sexton, will become the company’s interim Chief Financial Officer.

Mr. Sexton, ATK’s current Vice President and Controller, is a 25-year veteran of the company and has an extensive background in all aspects of both corporate and operational finance.

Mr. Sexton succeeds John Shroyer who will be leaving ATK after it reports FY12 first quarter earnings on August 4. He has accepted the Chief Financial Officer position with Capsugel, a New Jersey-based company.

ATK will retain an executive search firm to review both internal and external candidates for the permanent Chief Financial Officer position. “In the interim, we are extremely fortunate to have the depth of management experience and financial acumen Tom brings to the job. His experience will help ensure a smooth transition until a permanent CFO is named,” said Mark DeYoung, President and CEO.

Regarding Mr. Shroyer’s departure, DeYoung stated “John has contributed significantly to the company’s success throughout his career. He has led several strategic initiatives, and built a strong financial organization with significant bench strength. On behalf of the Board of Directors and ATK’s executive management team, I want to personally thank John for his many contributions and wish him continued success in his new career.”

ATK is an aerospace, defense, and commercial products company with operations in 22 states, Puerto Rico, and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at www.atk.com.

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ATK Receives $77 Million Contract to Develop Next-Generation Ammunition for U.S. Army Abrams Main Battle Tank
ATK Has Delivered More Than Four Million Rounds of 120mm Tank Ammunition to U.S. and Allied International Forces
ATK Has Developed 10 of the 12 120mm Tank Rounds Type Classified Since 1980.

ATK

MINNEAPOLIS, Minn --(Ammoland.com)- ATK (NYSE: ATK) has received a $77 million, three-year contract to develop and qualify the M829E4 120mm Advanced Kinetic Energy (AKE) tactical tank round for the U.S. Army.

At the completion of this contract, ATK will have completed the second phase of the Engineering Manufacture Design (EMD) work required to qualify the new round for use with the Army’s M1A2 SEP Abrams Main Battle Tank. Upon qualification, the round will enter full-rate production.

“During our 30 years of program experience partnering with the Army, we have type classified 10 of the 12 120mm tactical and training rounds for the Abrams tank. This experience makes ATK uniquely qualified to develop this next generation capability for the Army,” said Bruce DeWitt, Vice President and General Manager for ATK Advanced Weapons Division.

“ATK provided the 120mm ammunition that helped ‘upgun’ the Abrams from a 105mm to a 120mm main gun and we look forward to working with the Army to maintain the Abrams’ standing as the world’s dominant tank.”

The M829E4 is the Army’s fifth generation, 120mm kinetic energy cartridge. The round is being developed to provide the Abrams M1A2 SEP (System Enhancement Package) with heavy armor defeat capabilities that allow the tank crew to engage and destroy threat Main Battle Tanks protected with advanced, explosive reactive armor at extended ranges as well as in Military Operations in Urban Terrain (MOUT), mountain, and nontraditional battlefields. The round will allow for the use of fewer rounds and allow for faster enemy engagements – factors that will ultimately increase crew and platform survivability.

Having successfully completed the first EMD phase, ATK was selected to advance to the second EMD phase based on an industry competition that included the results of a ballistic demonstration test and shoot-off and final proposal used to provide the best value decision for the Army.

Since 1980, ATK has delivered more than four million rounds of 120mm tactical and training tank ammunition to the U.S. Army, U.S. Marine Corps, and allied militaries. Through its proven, system-level contracting approach that reduces the risk to the customer, ATK has delivered a constant supply of 120mm ammunition that is consistently reliable and affordable.

ATK is an aerospace, defense, and commercial products company with operations in 22 states, Puerto Rico, and internationally, and revenues of approximately $4.8 billion. News and information can be found on the Internet at www.atk.com.

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