30 April 2014
Orbital Sciences Corp. (NYSE: ORB) said it has entered into a definitive agreement with Alliant Techsystems Inc. (ATK), which will combine Orbital and ATK´s aerospace and defense groups to create a USD4.5bn, 13,000-person space, defense and aviation systems developer and manufacturer.
The new company, to be called Orbital ATK, Inc., will serve US and international customers with leading positions in the markets for space launch vehicles and propulsion systems, tactical missiles and defense electronics, satellites and space systems, armament systems and ammunition, and commercial and military aircraft structures and related components. As part of the transaction, ATK will spin off its sporting group, which focuses on commercial sporting equipment, to its shareholders.
ATK is an aerospace, defense and commercial products company with operations in 22 states, as well as in Puerto Rico and overseas. Its website is at www.atk.com, on Facebook at www.facebook.com/atk or on Twitter@atk.
Orbital develops and manufactures small- and medium-class rockets and space systems for commercial, military and civil government customers. Its website is at www.orbital.com, on Twitter @OrbitalSciences and on Facebook at www.facebook.com/OrbitalSciencesCorp.