ATK Will Move Fuze Production Operations From Wisconsin to West Virginia
(Source: ATK Alliant Techsystems; issued Jan.14, 2005)
MINNEAPOLIS --- Alliant Techsystems announced today that it will move its fuze production operations from Jan.esville, Wis. to the company's precision munitions manufacturing center of excellence at the Allegany Ballistics Laboratory in Rocket Center, W. Va.
The move is part of an ongoing strategy to deliver greater value to U.S. government customers through improved manufacturing efficiencies. It follows the successful relocation of the company's medium-caliber ammunition production operations from Minneapolis to the West Virginia facility over the past year.
ATK expects to incur move-related costs of approximately $5 million in the current fiscal year, which ends March 31, and additional costs of approximately $5 million in fiscal year 2006. The current-year costs will be partially offset by a one-time tax benefit of $3.2 million, which will be reflected in third-quarter results.
ATK continues to expect FY05 earnings per share to be between $3.90 and $4.00, consistent with previous guidance. The company is also reaffirming its commitment to deliver double-digit earnings growth in fiscal year 2006 and beyond.
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