VIRGINIA BEACH, Va., March 18, 2015 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its AMSEC LLC subsidiary has been awarded a contract by the U.S. Navy to provide engineering and technical services in support of the Navy Modernization Program.
AMSEC LLC was one of several contractors awarded a three-year indefinite-delivery/indefinite-quantity, cost-plus-fixed-fee contract. The estimated ceiling amount of AMSEC's contract is $83 million. Contract funds will be awarded on a competitive task order basis among the awardees.
"AMSEC has more than 34 years of experience delivering complete hull, mechanical and electrical services and alteration installation team solutions to the U.S. fleet," said Harris Leonard, vice president of HII's Newport News Shipbuilding division and president of AMSEC operations. "We will build on our record of superior service to the Naval Surface Warfare Center and the naval fleet they support."
AMSEC's portion of the work will be performed in various fleet homeports for the U.S. Navy (95 percent) and the government of Poland (5 percent). Foreign military sales to Greece, Australia and Taiwan are also possible under future options. The work is expected to be completed by March 2018. The Naval Surface Warfare Center, Carderock Division, Philadelphia, is the contracting activity.
"AMSEC is honored with the award of this contract and is avidly looking forward to continuing its 30-year strategic business partnership with the Naval Surface Warfare Center, Carderock Division," said Christopher Fiori, AMSEC's program manager for the work performed under the contract. "Deploying new technologies and providing maintenance, modernization and technical services for the U.S. Navy and other Department of Defense technical communities is AMSEC's primary mission. We will continue to utilize our highly skilled industrial workforce and company resources on all tasking in order to meet the needs of the fleet."
About AMSEC LLC
AMSEC LLC has over 2,000 employees at 35 locations worldwide to enhance the readiness of U.S. aircraft carriers, submarines and surface ships. As a full-service supplier to the U.S. Navy and commercial maritime industry, AMSEC provides naval architecture and marine engineering, naval ship systems assessments, maintenance engineering, waterfront maintenance support, acquisition program support, shipyard industrial engineering, and C4I installation and support services. AMSEC also provides life-cycle integrated logistics services, including technical manual development, provisioning documentation, spare parts management, training development and delivery, and software development.
About Huntington Ingalls Industries
Huntington Ingalls Industries is America's largest military shipbuilding company and a provider of manufacturing, engineering and management services to the commercial and non-commercial energy, oil and gas markets. 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. Headquartered in Newport News, Virginia, HII employs approximately 38,000 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
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 obtain new contracts, estimate our future contract costs and perform our contracts effectively; changes in government regulations and procurement processes and our ability to comply with such requirements; our ability to realize the expected benefits from consolidation of our Ingalls facilities; natural disasters; adverse economic conditions in the United States and globally; risks related to our indebtedness and leverage; 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 obligations to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make.