 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
ATK Snaps Up Thiokol For $685 Million
Pittsburgh - Jan. 31, 2001 Alcoa Inc. and Alliant Techsystems Inc (ATK) have reached agreement under for ATK to acquire Alcoa's Thiokol Propulsion business for $685 million in cash. Thiokol, a leading supplier of rocket propulsion systems for space launch vehicles with sales of approximately $570 million, became part of Alcoa with the acquisition of Cordant Technologies in May 2000. ATK is a supplier of aerospace and defense products, including conventional munitions and propulsion rocket motors. The transaction, which has received all necessary corporate approvals of both companies, is subject to customary regulatory approvals. It is expected to close by the end of the second quarter of 2001. Commenting on the announcement, Alcoa Chairman and CEO Alain Belda said, "This transaction is beneficial to all parties involved. It delivers value to Alcoa shareholders, and Thiokol becomes a strategic part of ATK, a company in the propulsion business and positioned to help Thiokol realize the full value of its products and technologies." "This is a sound strategic acquisition that will deliver significant value to customers, employees and ATK shareholders," said Paul David Miller, chairman and chief executive officer of ATK. "When approved, we will have a blend of propulsion expertise, leadership spirit, and personal commitment to integrate effectively these businesses." ATK said it expects the acquisition to be accretive to earnings by 5 to 10 cents per share in fiscal year 2002, which begins April 1, 2001. ATK is a $1.1 billion aerospace and defense company with leading market positions in munitions, smart weapons/precision capabilities, propulsion, and composite structures. The company, which is headquartered in Hopkins, Minn., has three business segments: Conventional Munitions, Aerospace, and Defense Systems. Community Email This Article Comment On This Article Related Links Thiokol Alliant Techsystems SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Squeezing Ukraine In Space
Moscow (UPI) Dec 18, 2005Despite political differences, Russia and Ukraine used to play on the same "space" field in pre-"Orange Revolution" times. Today the situation is radically altered and the Ukrainian space industry risks stagnating and losing its positions as the space component of the national economy. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
