Friday, September 21, 2018

Local Business

Presto gets $58.2M U.S. Army option

A subsidiary of Eau Claire-based National Presto Industries won an $58.2 million option on Monday to provide 40mm ammunition to the U.S. Army, according to a company news release.

The option is primarily for M430A1 cartridges, a high-explosive, armor-penetrating round that is fired from a grenade launcher.

The subsidiary producing the ammunition is Janesville-based AMTEC Corp.

This is the second year of a five-year contract that AMTEC has with the Army. Additional option awards are anticipated during the fiscal year, the Presto news release stated.

From staff reports

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