PASCAGOULA, Miss., April 16, 2018 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division received a $27 million cost-plus-award fee contract from the U.S. Navy today for follow yard services in the Navy’s USS Arleigh Burke (DDG 51) program.
The contract, which provides liaison and technical support, engineering, design and configuration management, systems engineering, turn-key management and crew indoctrination, includes four option years with a total potential contract value of $181.4 million if all options are exercised.
“This contract highlights our shipyard’s versatility in handling all aspects of shipbuilding for the Navy,” said Ingalls Shipbuilding President Brian Cuccias. “We have a long tradition of building DDG 51 class ships and this contract supports configuration management and engineering design support of the construction contracts. We look forward to continuing this success in providing the most technologically advanced destroyers to the U.S. Navy so the men and women sailing these ships will have the most modern tools necessary to protect our freedom.”
Ingalls has delivered 30 Arleigh Burke-class (DDG 51) destroyers to the U.S. Navy. Destroyers currently under construction at Ingalls include Paul Ignatius (DDG 117), Delbert D. Black (DDG 119) Frank E. Petersen Jr. (DDG 121) and Lenah H. Sutcliffe Higbee (DDG 123).
Arleigh Burke-class destroyers are highly capable, multi-mission ships and can conduct a variety of operations, from peacetime presence and crisis management to sea control and power projection, all in support of the United States’ military strategy. The guided missile destroyers are capable of simultaneously fighting air, surface and subsurface battles. The ship contains myriad offensive and defensive weapons designed to support maritime defense needs well into the 21st century.
About Huntington Ingalls Industries
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, Integrated Mission Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs nearly 38,000 people operating both domestically and internationally. For more information, visit:
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; adverse economic conditions in the United States and globally; 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.
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