ADG has a good quarter
Filed under: Allied Defense Group, Earnings, logistics, production program
Allied Defense Group announced their quarterly results. See a press release here. The company had a good second quarter with revenue and EPS up significantly. This was primarily driven by sales of ammunition and the contract to build a plant in Jordan.
Army buys ammo for Afghanistan
Filed under: Allied Defense Group, Congress, Contract Awards, FMS, U.S. Army, afghanistan, logistics
Fresh off all of the problems with the contract let to AEY, the US has moved to a more traditional source for ammo for Afghanistan’s military and police. See the press release here. Allied Defense Group has been awarded a FMS contract to provide ammo. Allied has grown significantly over the last 7 years as the demand by the US for ammunition of all types, but especially small arms, has increased.
Army awards ammunition contract to alliance
Filed under: Alliant Techsystems, Allied Defense Group, Contract Awards, U.S. Army, production program
Alliant Tech Systems (ATK) and Allied Defense Group won a contract from the US Army to provide 105 mm main gun ammunition. See the press release here. The ammo will be for the Stryker Main Gun System, which is a Stryker wheeled vehicle with a 105 mm gun in a low profile turret. This has been deployed to Iraq to provide the Stryker units some heavy firepower. The contract is worth $7.4 M over two years. ATK is a company that was created when Honeywell spun off some of their defense business and it later acquired Hercules Aviation and Thiokol Propulsion. For more on the company see this.
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