Huntington Ingalls Industries Awarded $936 Million Contract to Build Navy Destroyer
June 30 2020 - 8:47AM
Huntington Ingalls Industries’ (NYSE: HII) Ingalls Shipbuilding
division has been awarded a $936 million contract for the
construction of an additional Arleigh Burke-class (DDG 51) Flight
III destroyer for the U.S. Navy. In 2018, Ingalls was awarded a
$5.1 billion fixed-price incentive, multiyear contract for
construction of six Arleigh Burke-class Flight III destroyers for
the U.S. Navy.
“We take great pride in the craftsmanship of our shipbuilders,
and in the capabilities of our world-class shipyard,” Ingalls
Shipbuilding President Brian Cuccias said. “This contract award
provides great momentum for Ingalls and our more than 600
suppliers, in nearly 40 states, as we enter the second half of the
year. We continue to focus on high performance and providing the
greatest value possible to our customers.”
Ingalls has delivered 32 destroyers to the Navy and has four
more under construction including Frank E. Petersen
Jr. (DDG 121), Lenah H. Sutcliffe Higbee (DDG
123), Jack H. Lucas (DDG 125) and Ted
Stevens (DDG 128). Ingalls delivered Delbert D. Black (DDG
119) to the Navy in April.
Arleigh Burke-class destroyers are capable, multi-mission ships
and can conduct a variety of operations, from peacetime presence
and crisis management to sea control and power projection, all in
support of the United States’ military strategy. These guided
missile destroyers are capable of simultaneously fighting air,
surface and subsurface battles. These ships contains myriad
offensive and defensive weapons designed to support maritime
defense needs well into the 21st century.
Huntington Ingalls Industries is America’s largest military
shipbuilding company and a provider of professional services to
partners in government and industry. For more than a century, HII’s
Newport News and Ingalls shipbuilding divisions in Virginia and
Mississippi have built more ships in more ship classes than any
other U.S. naval shipbuilder. HII’s Technical Solutions division
supports national security missions around the globe with unmanned
systems, defense and federal solutions, nuclear and environmental
services, and fleet sustainment. Headquartered in Newport News,
Virginia, HII employs more than 42,000 people operating both
domestically and internationally. For more information, visit:
- HII on the web: www.huntingtoningalls.com
- HII on Facebook:
www.facebook.com/HuntingtonIngallsIndustries
- HII on Twitter: www.twitter.com/hiindustries
- HII on YouTube: www.youtube.com/huntingtoningalls
- HII on Instagram: www.instagram.com/huntingtoningalls
Statements in this release, as well as other statements we may
make from time to time, other than statements of historical fact,
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties that could cause our
actual results to differ materially from those expressed in these
statements. Factors that may cause such differences include:
changes in government and customer priorities and requirements
(including government budgetary constraints, shifts in defense
spending, and changes in customer short-range and long-range
plans); our ability to estimate our future contract costs and
perform our contracts effectively; changes in procurement processes
and government regulations and our ability to comply with such
requirements; our ability to deliver our products and services at
an affordable life cycle cost and compete within our markets;
natural and environmental disasters and political instability; our
ability to execute our strategic plan, including with respect to
share repurchases, dividends, capital expenditures, and strategic
acquisitions; adverse economic conditions in the United States and
globally; changes in key estimates and assumptions regarding our
pension and retiree health care costs; security threats, including
cyber security threats, and related disruptions; and other risk
factors discussed in our filings with the U.S. Securities and
Exchange Commission. There may be other risks and uncertainties
that we are unable to predict at this time or that we currently do
not expect to have a material adverse effect on our business, and
we undertake no obligation to update or revise any forward-looking
statements. You should not place undue reliance on any
forward-looking statements that we may make.
Contact:
Teckie Hinkebeinteckie.hinkebein@hii-co.com(228)
935-1323
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