Huntington Ingalls Industries awarded submarine planning yard contract worth a potential $454 million
Huntington Ingalls Industries (NYSE: HII) announced that its Newport News Shipbuilding division has been awarded a planning yard design services contract with a potential total value of $454.1 million for nuclear-powered submarines.
The contract will provide planning, engineering and design, and logistics and modernization support for new, operational, conversion and decommissioning submarines. The contract includes options over a five-year period through 2024, and is initially funded at $5.3 million.
“We have a proven history of executing Navy ship design, shipbuilding and maintenance work, and we continue to grow, develop and train the workforce necessary to support the increasing pace and volume of our work with the U.S. Navy,” said Charles Southall, Newport News’ vice president of engineering and design. “With this contract, we look to continuing our partnership with the Navy to modernize and maintain the nation’s fleet of high-quality, mission-capable submarines.”
Newport News is one of two U.S. shipyards capable of designing and building nuclear-powered submarines, and is the design agent and hull planning yard for the Los Angeles-class and Seawolf-class attack submarines. The company also provides technical services and mobile submarine modernization and repair services at naval shipyards, fleet homeports and around the world.
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 provides a wide range of professional services through its Fleet Support, Mission Driven Innovative Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs more than 42,000 people operating both domestically and internationally.
