National Presto : Foreign Military Supply Agreement for 40mm Ammunition
April 12, 2016 at 06:10 pm EDT
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NATIONAL PRESTO INDUSTRIES, INC. ANNOUNCES FOREIGN MILITARY SUPPLY AGREEMENT FOR 40MM AMMUNITION
Eau Claire, Wisconsin (April 12, 2016) -- National Presto Industries, Inc. (NYSE: NPK) announced today that its wholly owned subsidiary, AMTEC Corporation, has signed a supply agreement with Chemring Ordnance, Inc. to provide 40mm high velocity cartridges and certain components for a Chemring commercial foreign military contract. The value of the agreement is approximately $99 million, with deliveries commencing in April 2016 and extending through March 2018. Work in support of the supply agreement will be performed at AMTEC's facility in Janesville, WI, AMTEC divisions Amron and Tech Ord, and AMTEC subsidiary Spectra Technologies, LLC.
National Presto Industries, Inc. operates in three business segments. The Housewares/Small Appliance segment designs and sells small household appliances and pressure cookers under the PRESTO® brand name and is recognized as an innovator of new products. The Defense segment manufactures a variety of products, including medium caliber training and tactical ammunition, energetic ordnance items, fuzes, and cartridge cases, less-lethal munitions and less-lethal accessory equipment. The Absorbent Products segment primarily engages in the manufacture of private label adult incontinence products.
This release contains 'forward looking statements' made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. In addition to the factors discussed above, other important risk factors are delineated in the Company's various SEC filings.
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National Presto Industries Inc. issued this content on 12 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 April 2016 22:09:09 UTC
Original Document: http://www.gopresto.com/information/financial/2016april12.php
National Presto Industries, Inc. is engaged in various business segments, which includes Housewares/Small Appliance, Defense and Safety. The Housewares/Small Appliance segment designs, markets and distributes housewares and small electrical appliances, including pressure cookers and canners, kitchen electrics, and comfort appliances. The Defense segment manufactures 40-millimeter (mm) ammunition, precision mechanical and electro-mechanical assemblies, medium caliber cartridge cases and metal parts; performs Load, Assemble and Pack (LAP) operations on ordnance-related products primarily for the United States Government and prime contractors, and manufactures detonators, booster pellets, release cartridges, lead azide and others. The Safety segment offers systems that provide early warning of conditions that could ultimately lead to significant losses and also offers carbon monoxide alarms with large digital displays and an array of voice messages that clearly inform of incipient danger.
NATIONAL PRESTO INDUSTRIES, INC. 
