Huntington Ingalls Industries Awarded $175 Million U.S. Navy Support Contract
February 01 2021 - 9:30AM
Huntington Ingalls Industries’ (NYSE:HII) Technical Solutions
division was awarded a contract last week to provide maintenance,
training and planning support for U.S. Navy aircraft carriers. The
indefinite-delivery/indefinite-quantity contract includes a
five-year ordering term, with a total potential value of $175
million.
“We are very pleased the U.S. Navy has entrusted us to support
the readiness of one of our nation’s most important power
projection platforms,” said Garry Schwartz, president of Technical
Solutions’ Defense and Federal Solutions business group. “For
nearly four decades, we’ve partnered with the Navy on this critical
program, and we look forward to continuing to advance our nation’s
fleet sustainment for years to come.”
HII will provide engineering services, maintenance and operator
training as well as technical and repair services in support of
maintenance and planning for the overhaul, modernization and repair
of shipboard elevators, cargo-handling equipment and associated
systems installed within U.S. Navy aircraft carriers.
The work, contracted by Naval Sea Systems Command, will be
performed onboard U.S. naval aircraft carriers in Norfolk,
Virginia; San Diego, California; Bremerton and Everett, Washington;
Japan, and other fleet concentration areas to be determined.
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: 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: Beci BrentonBeci.Brenton@hii-co.com(202)
264-7143
Huntington Ingalls Indus... (NYSE:HII)
Historical Stock Chart
From Mar 2024 to Apr 2024
Huntington Ingalls Indus... (NYSE:HII)
Historical Stock Chart
From Apr 2023 to Apr 2024