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Alliant Techsystems Inc. (ATK - Analyst Report) has teamed up with General Dynamics Ordnance and Tactical Systems, a unit of General Dynamics Corporation (GD - Analyst Report) to provide a complete solution for the United States Marine Corps' (USMC) requirements for the rifled, 120mm Precision Extended Range Mortar (PERM).
As part of the deal, Alliant will be the prime contractor to the United States Marine Corps for the PERM Engineering and Manufacturing Development (EMD) program. Under the contract, the company will provide its guidance fuze technology combined with General Dynamics' propulsion and warhead subsystems, offering the Marine Corps a low-risk, capabilities-based solution that will fulfill their requirements in the shortest time possible.
With this deal, both Alliant and General Dynamics stand to benefit by combining Alliant’s proven mortar guidance capability with General Dynamics' propulsion technology and Expeditionary Fire Support System (EFSS) experience.
PERM is integral to the USMC's Ship-to-Objective-Maneuver (STOM) contingency operations. These operations support Marine infantry units with precision, long-range (16 – 20km) mortars fired from the Expeditionary Fire Support System towed-mortar platform. The Expeditionary Fire Support System is a light, mobile, and vertically transportable indirect fire support system designed for missions requiring tactical versatility, speed, and close-in fire support.
The EFSS is composed of a pair of Prime Mover vehicles, a 120mm M327 mortar weapon, the four-round family of munitions and an ammunition trailer. The EFSS is designed to be internally transportable in the MV-22B Osprey and the CH-53 helicopter and has been on the field with the Marine Corps since 2009.
Minneapolis, Minnesota-based Alliant Techsystems Inc. is a premier aerospace and defense company supplying products to the U.S. government agencies, and its prime contractors and sub-contractors. The company also supplies ammunition and related accessories to law enforcement agencies and commercial customers.
Alliant Techsystems presently retains a short-term Zacks #3 Rank (Hold). We maintain our long-term Neutral recommendation on the stock due to the concerns lingering over concentration of contracts from the U.S. Government and NASA, which may affect the company’s bottom and top lines.
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