National Presto announces defense contract option

The Eau Claire-based National Presto Industries, Inc. today announced that AMTEC Corp., its wholly owned subsidiary, received a $81 million option award under AMTEC’s current five-year 40mm systems contract with the U.S. Army.

This is the first award it has received during the government’s 2012 fiscal year, and additional awards are anticipated. Deliveries under the option are scheduled in 2013 and 2014.

The option brings the cumulative amount awarded under the ongoing 40mm contract to $364.7 million.

National Presto operates in three business segments: housewares/small appliance, which designs and sells small household appliances and pressure cookers under the PRESTO brand name; the defense segment, which manufactures medium caliber training and tactical ammunition, ordnance items, and less-lethal munitions and accessory equipment; and the absorbent products segment, which manufactures private label adult incontinence products.