On Tuesday, Alliant TechSystemsannounced that it has won a $17 million U.S. Air Force contract to supply rocket motors for AIM-9P Sidewinder customers under the U.S. Foreign Military Sales program.
The specific foreign nation buying the Sidewinder motors was not specified, but several U.S. allies -- among them Bahrain, Pakistan, Chile, Taiwan, and several NATO countries -- are believed to still have AIM-9Ps in stock.
The AIM-9P is a Sidewinder variant first developed in the 1970s. As such, these rocket motors are not likely to be for use on new rockets. Indeed, in a statement announcing the sale, Alliant noted that "many international inventories of the AIM-9P Sidewinder are aging beyond the missile's period of expected use in service," implying that Alliant is "restarting" production of the rocket motor for the express purpose of upgrading and returning to serviceability stockpiles of already-sold rockets in foreign inventories.
Alliant TechSystems shares closed down 0.8% despite news of the sale, ending the day at $65.35.
The article Alliant TechSystems Wins $17 Million Sidewinder Order originally appeared on Fool.com.
Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.