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MINNEAPOLIS - Alliant Techsystems Inc., which makes ammunition, propulsion systems and aerospace supplies, has been awarded a $10.4 million Army contract to design and demonstrate a projectile that is more precise than a previous model.
| ATK | 75.76 |  3.72 |
The award is for the first phase of a four-year Excalibur Ib system design and development program for the U.S. Army.
Production options could bring the total contract value to more than $350 million, Alliant Techsystems said in a statement Monday.
The Excalibur Ib is a lower-cost, more reliable alternative to the Excalibur Ia, a precision-guided, extended-range 155mm artillery projectile.
The company said higher accuracy rounds help prevent harm to unintended targets.
Alliant shares fell 78 cents to $95.45 in morning trading.
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