
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, June 27, 1995                   TAG: 9506270074
SECTION: BUSINESS                    PAGE: B-5   EDITION: METRO 
SOURCE: 
DATELINE: HOPKINS, MINN.                                LENGTH: Short

ALLIANT SETTLES WITH GOVERNMENT

Alliant Techsystems Inc. said Monday it has agreed to pay about $15 million to settle a lawsuit with the Justice Department involving alleged violations of environmental laws at the defense contractor's Janesville, Wis., unit.

The complaint, filed in November 1993, concerned production of electronic assemblies for a government contract at Alliant's Accudyne Corp. unit. Alliant, which denied any liability, said the alleged violations occurred prior to its acquisition of Accudyne in October 1993.

Alliant agreed to pay $12 million over three years, plus interest. The company also will pay $3 million in legal costs.

To account for the payment, Alliant restated financial results for its latest fiscal year ended March 31 to reflect a net loss of $74.1 million, or $7.37 per share. The company originally reported a loss of $59.1 million, or $5.88 per share, for the fiscal year.

Alliant has operated the Army Ammunition Plant in Radford, Va., since March, when it bought the contract from Hercules Corp.

- Associated Press

by CNB