Huntington Ingalls Industries Wins Planning Yard Contract Worth A Potential $724 Million
June 08 2021 - 4:30PM
Huntington Ingalls Industries (NYSE:HII) announced today that its
Ingalls Shipbuilding division has been awarded a contract with a
potential total value of $724 million for planning yard services in
support of in-service amphibious ships.
“Ingalls has a 40-year history of providing planning yard
services to ships in active service,” Ingalls Shipbuilding
President Kari Wilkinson said. “We consider this a core competency
and a critical part of our mission to support the Navy in meeting
fleet commitments around the world.”
Planning yard services provided will be in support of amphibious
transport dock (LPD 17), assault (LHD 1 and LHA 6), command (LCC
19), and dock landing (LSD 41/49) classes of ships. The contract
includes options over a seven-year period and covers fleet
modernization availability planning; engineering, design and
logistics support; material procurement; program and configuration
data management; and on-site technical support through established
homeport and planning yard offices and resources.
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 41,000 people operating both domestically and
internationally. For more information, please visit
www.huntingtoningalls.com.
- 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: Teckie Hinkebeinteckie.hinkebein@hii-co.com(228)
935-1323
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