ATK has worked with MDA on developing the landing gear for the Mars Exploration Rover and the RADARSAT-2 satellite, which was launched last month to conduct environmental monitoring and disaster management.
"They do everything right and they do it right the first time," Murphy said of MDA. "In the satellite business, that's important because you don't get a second crack at it."
ATK expects the purchase to contribute to earnings per share in fiscal 2009 and thereafter. The company said it has financing in place and hopes to close the transaction in its first fiscal quarter of 2009, which begins April 1.
To head up the new division, ATK named as president Carl Marchetto, formerly executive vice president and general manager of Orbital Sciences Corp.'s Space Systems Group.
Murphy said Marchetto is scouting a location south of Baltimore for the new Space Systems' headquarters.
"There is a very strong concentration of engineering talent in the Baltimore-Washington axis," Murphy said. "I have been very pleased with the talent we've been able to recruit out of Maryland."
Murphy said it was too early to tell how many jobs would be added in Maryland once the new division is established. However, he said the Mission Systems Group hired 1,000 over the last year nationally, including nearly 100 in Canton.
The purchase was announced yesterday after the stock market closed. ATK stock closed down $1.27 yesterday at $108.92 per share.
allison.connolly@baltsun.com
