National Presto's AMTEC Wins $52M Army Contract

By Bobby Samwell • Tuesday, August 27 07:55 • Permanent Link

National Presto Industries, Inc. has announced that its subsidiary, AMTEC Corporation, has been awarded a $52.0 million option under year three of its current five-year 40mm systems contract with the U.S. Army. This brings the total value of the contract to $401.7 million, including prior government awards from fiscal years 2022, 2023, and 2024.

The Defense segment, under which AMTEC Corporation operates, manufactures a range of products, including medium caliber training and tactical ammunition, energetic ordnance items, fuzes, cartridge cases, and metal parts.

The press release did not provide specific financial metrics for National Presto Industries, Inc. or its other segments, such as Housewares/Small Appliance and Safety, for comparison with the previous periods. The market has reacted to these announcements by moving the company's shares 0.7% to a price of $74.87. For more information, read the company's full 8-K submission here.

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