ATK [ATK] executives said the company reached an agreement in principle to acquire PSI Group, a manufacturer of satellite components and propellant tanks. According to ATK, PSI provides mission-critical components to the emerging needs of the U.S. military, including next-generation global positioning, navigation and communications satellites. The transaction should close in mid-August, pending federal regulatory review and approval, and ATK will end up with all PSI Group companies, including Pressure Systems Inc., Programmed Composites Inc. and Able Engineering Co. Inc.
ATK Acquires PSI Group
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