The Value of the Initial Design and Development Contract is Expected to Exceed $50 Million ATK Anticipates Solar Array Production to Continue Through 2020
Alliant Techsystems (NYSE:ATK) has been selected by Lockheed Martin Space Systems Company, a division of Lockheed Martin Corporation to design, develop and build UltraFlex solar arrays for NASA’s next generation Orion crew exploration vehicle. The value of the initial design and development contract is expected to exceed $50 million. Program management, design, engineering, analysis, manufacturing, assembly and test work for the solar arrays will be conducted at ATK’s facility in Goleta, CA. Because the flight solar array system is expendable for each Orion mission, ATK expects continuous production through 2020 and beyond.
Powered by ATK’s solar arrays, Orion is being designed to carry astronauts to the moon. It also will transport crew and cargo to the International Space Station.
ATK’s UltraFlex disk shaped solar arrays, each measuring greater than 5 meters in diameter, will track the sun and provide power for Orion during its mission. ATK’s UltraFlex arrays offer superior performance characteristics and mission enabling features, including ultra-lightweight, high strength, high stiffness, and compact stowage volume. The UltraFlex solar array configured for Orion will provide over twenty-five times the strength and ten times the stiffness of ATK’s conventional rigid panel solar arrays, at less than one-fourth the weight.
“We are very excited to play such a key partner role on Lockheed Martin’s team supporting NASA’s Orion crew exploration vehicle,” said Mike Cerneck, Vice President and General Manager of ATK Space, headquartered in Beltsville, MD. “ATK is a leader in the development and supply of mission-enabling deployable space systems and we look forward to supporting NASA’s new era of space exploration.” ATK is an industry leader in solar array systems-engineering competencies. It offers a broad range of technologies, skills and products, and a proven production and test capability for solar array systems. To date the company has delivered over 70 solar array wing systems.
ATK is an advanced weapon and space systems company with annual revenues in excess of $4.1 billion that employs more than 17,000 people in 21 states. News and information can be found on the Internet at http://www.atk.com/.
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: the challenges of developing advanced space exploration technologies, 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.
