NEWPORT NEWS, Va., Dec. 02, 2016 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that it has completed its previously announced acquisition of Camber Corporation and formed a new operating division, HII Technical Solutions. The new division will be led by Andy Green, who will serve as an executive vice president of HII and president of HII Technical Solutions, reporting directly to HII President and CEO Mike Petters.
“The acquisition of Camber and the consolidation of our existing service businesses into a dedicated division provides the breadth and scale necessary to successfully pursue numerous growth opportunities,” Petters said. “Camber brings a broad array of capabilities to the HII team, and we are excited about the possibilities of growing the combined businesses. This is an important investment in the future of our company, and we welcome Camber to the HII family."
HII Technical Solutions is a professional services business providing solutions to a wide variety of government and commercial customers worldwide. The division provides agile software development and network engineering, training systems, logistics support, information technology, fleet maintenance and modernization, unmanned undersea systems, nuclear engineering and fabrication, and oil and gas engineering. HII Technical Solutions reflects the consolidation of Camber with several of HII’s existing subsidiaries, including AMSEC, Continental Maritime of San Diego, Newport News Industrial, SN3, Undersea Solutions Group and UniversalPegasus International.
“This new division will enhance strategic and operational alignment among our services businesses, expand opportunities for growth and, because it is a reportable operating segment, improve performance transparency,” Petters said. “Andy’s strong leadership and deep understanding of the services market make him the right choice to build and grow a highly competitive, people-driven, customer-centric professional services company.”
Green joined HII in 2011 and has since served in several leadership positions, including corporate vice president of investor relations, vice president of component manufacturing at Newport News Shipbuilding and, most recently, corporate vice president of corporate development, where he was responsible for all of HII’s corporate development activities related to shipbuilding and technical services. Prior to joining HII, he was vice president of investor relations at Celanese Corp., managing director at Wells Fargo Securities and manufacturing engineer at Eaton Corp. Green graduated from the United States Naval Academy with a bachelor’s degree in systems engineering and served as a nuclear submarine officer aboard USS Tecumseh (SSBN 628). He holds an M.B.A. from Duke University.
HII Technical Solutions has more than 5,000 employees working in 35 states and 11 countries.
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 Missions Solutions, Nuclear and Environmental, and Oil and Gas groups. Headquartered in Newport News, Virginia, HII employs nearly 37,000 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 and changes in customer short-range and long-range plans); our ability to win new contracts and perform our contracts effectively; changes in procurement processes and government regulations and our ability to comply with such requirements; our ability to compete within our markets; our ability to effectively integrate Camber into our existing business operations and achieve projected operating results; our ability to achieve the results we expect from the formation of the new Technical Solutions segment; 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.