Photo Release — Huntington Ingalls Industries Awarded Contract for Single-Phase Delivery of Aircraft Carrier John F. Kenned...
November 02 2020 - 5:25PM
Huntington Ingalls Industries (NYSE:HII) has received an
undefinitized contract award from the U.S. Navy to shift the
delivery strategy for the aircraft carrier John F. Kennedy (CVN 79)
from a two-phase delivery to a single phase.
The contract action announced today revises the two-phased
delivery approach originally planned for the second ship in the
Gerald R. Ford-class of carriers. It comes as a result of extensive
collaboration with the Navy to support legislative requirements for
Kennedy to be delivered with its complete warfare system, including
F-35 Joint Strike Fighter capabilities, before the ship is
commissioned into the fleet.
The contract action has a potential total value of up to $315
million, provides initial funding for the procurement of long-lead
material and planning, and is expected to be definitized next
year.
“We are pleased to have worked with the Navy to adopt lessons
learned in the construction of USS Gerald R. Ford (CVN 78) to
improve cost, production and planning efficiencies on Kennedy,”
said Lucas Hicks, Newport News’ vice president of new construction
aircraft carrier programs. “We believe that the single-phase
approach ensures the most effective build plan for all remaining
work and provides the best value for the Navy by supporting its
ability to accelerate operational deployment of this maritime force
asset.”
A photo accompanying this release are available at:
https://newsroom.huntingtoningalls.com/file/kennedy-cvn79-pier-3.
Kennedy is approximately 76% complete. The ship was launched in
December 2019, and currently is undergoing additional outfitting
and testing at the company’s Newport News Shipbuilding division.
The ship is scheduled to be delivered to the Navy in 2024.
Kennedy will continue the legacy of highly capable
nuclear-powered aircraft carrier platforms. Ford-class enhancements
incorporated into the design include flight deck changes, improved
weapons handling systems and a redesigned island, all resulting in
increased aircraft sortie-generation rates. The Ford-class also
features new nuclear power plants, increased electrical
power-generation capacity, allowance for future technologies, and
reduced workload for sailors, translating to a smaller crew size
and reduced operating costs for the Navy.
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, and nuclear and
environmental services. 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, 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; health epidemics, pandemics and similar outbreaks,
including the COVID-19 pandemic; 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
any forward-looking statements. You should not place undue reliance
on any forward-looking statements that we may make. This release
also contains non-GAAP financial measures and includes a GAAP
reconciliation of these financial measures. Non-GAAP financial
measures should not be construed as being more important than
comparable GAAP measures.
Contact: Duane BourneDuane.A.Bourne@hii-co.com(757) 380-3581
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