ATK (NYSE: ATK) announced today that it will operate in a three-group structure at the beginning of its Fiscal Year 2013 (FY13).
The new structure will include the Aerospace Group, led by Blake Larson in Magna, Utah; the Defense Group, led by Mike Kahn in Baltimore, Md.; and the Sporting Group, led by Ron Johnson in Anoka, Minn. “We are committed to creating new products and solutions to address customer priorities at an affordable price, which will support long-term performance in each of our business segments,” said Mark DeYoung, President and CEO. “This structure will allow us to leverage ATK’s agile and innovative capabilities to proactively address the federal budget pressures facing many of our customers, the state of the economy and the increased need to be more competitive, domestically and internationally.”
The Defense Group will integrate the engineering, manufacturing and management excellence of the company’s current Armament Systems and Missile Products groups.
“This new integrated team will strengthen ATK’s brand in the defense industry; deliver improved synergies and cost savings critical to our competitiveness; and achieve long-term growth through resource alignment, investment and an international focus to deliver the company’s strategic priorities,” said DeYoung. “The Defense Group will bring together ATK’s industry-leading capabilities in ammunition, precision and strike weapons, tactical propulsion, and missile warning solutions.”
The Aerospace Group will continue its significant progress in streamlining its core businesses to drive near-term results and long-term growth in solid rocket propulsion systems, advanced materials, satellite structures and launch structures, and positioning for long-term growth in next-generation commercial and military aircraft structures, and small satellite systems.
“Our performance on the Airbus A350 program and the architecture announced by NASA in September 2011 for the Space Launch System provides a solid basis for the Aerospace Group’s future financial performance,” according to DeYoung.
The Sporting Group remains committed to its portfolio of market-leading brands, innovative ammunition, accessories, and individual equipment for sporting, military, personal security, and law enforcement applications.
“A key focus will be growing ATK’s presence in the sport shooting and law enforcement accessories markets,” said DeYoung.
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.
