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Bryce Hallowell
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Tuesday, 10 June 2008 |
Alliant Techsystems (NYSE: ATK) announced today that its Launch Systems and Space Systems groups are combining into a single business unit to prepare for future growth in space-related markets, next-generation missile defense, and prompt global strike missions.
The new organization is a natural alignment of the company's space-related businesses that will deliver increased operating efficiencies, while creating a broader customer base for ATK's technology portfolio. Carl Marchetto, the current President of the company's Space Systems group will lead the new organization, which will retain the Space Systems name.
Ron Dittemore, who has served as the President of the Launch Systems group, will become the company's Senior Vice President of Strategic Partnerships, reporting directly to Chairman and CEO Dan Murphy. In his new capacity, Mr. Dittemore will lead the company's efforts in support of NASA's space exploration vision. Under his leadership, Launch Systems' revenue grew from $800 million in annual sales to more than $1.2 billion. In addition, the group secured the prime contract for the first stage of NASA's next-generation launch vehicle, the Ares I.
The new Space Systems group will be the world's largest solid rocket launch systems provider. In addition to its launch vehicle and propulsion expertise, ATK Space Systems will be a leading manufacturer of components and subsystems for satellites as well as spacecraft. The group will also be home to an advanced materials technology infrastructure that will benefit both launch services and satellite customers.
The group will have approximately 6,600 employees and operate in 10 states. FY09 revenues for the group are expected to be greater than $1.6 billion.
"This new organization consolidates ATK's full-spectrum space services capabilities, provides a single face to our customers, and positions us for future growth in space," said Murphy. "Under Carl Marchetto's leadership, I am confident that the business will deliver enhanced value for our shareholders."
ATK is a premier aerospace and defense company with more than 17,000 employees in 21 states and $4.5 billion in revenue. |
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