Recs

0

Alliant TechSystems Wins $17 Million Sidewinder Order

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

On Tuesday, Alliant TechSystems (NYSE: ATK  ) announced that it has won a $17 million U.S. Air Force contract to supply rocket motors for AIM-9P Sidewinder customers under the U.S. Foreign Military Sales program.

The specific foreign nation buying the Sidewinder motors was not specified, but several U.S. allies -- among them Bahrain, Pakistan, Chile, Taiwan, and several NATO countries -- are believed to still have AIM-9Ps in stock.

The AIM-9P is a Sidewinder variant first developed in the 1970s. As such, these rocket motors are not likely to be for use on new rockets. Indeed, in a statement announcing the sale, Alliant noted that "many international inventories of the AIM-9P Sidewinder are aging beyond the missile's period of expected use in service," implying that Alliant is "restarting" production of the rocket motor for the express purpose of upgrading and returning to serviceability stockpiles of already-sold rockets in foreign inventories.

Alliant TechSystems shares closed down 0.8% despite news of the sale, ending the day at $65.35.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2251411, ~/Articles/ArticleHandler.aspx, 8/28/2015 6:11:45 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

Today's Market

updated 8 hours ago Sponsored by:
DOW 16,654.77 369.26 2.27%
S&P 500 1,987.66 47.15 2.43%
NASD 4,812.71 115.17 2.45%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
ATK $0.00 Down +0.00 +0.00%
Alliant Techsystem… CAPS Rating: ****

Advertisement