NEWPORT NEWS, Va., March 5, 2012 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Industrial Corp. (NNI) subsidiary has been awarded four subcontracts by The Shaw Group for fabrication work in the construction of four commercial nuclear power units.
"These awards represent a significant achievement for our company as we look to continue expanding into the commercial energy industry," said Matt Mulherin, president of Newport News Shipbuilding, which oversees NNI operations. "We appreciate Shaw's confidence in NNI and look forward to a productive partnership."
NNI will fabricate, assemble, inspect, transport and deliver shield building wall panels to the Vogtle units 3 and 4 project in Georgia and the V.C. Summer nuclear construction site in South Carolina.
NNI provides fabrication, construction, equipment repair, technical services and innovative products to the energy and petrochemical industries as well as government customers.
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 costs and perform effectively; risks related to our spin-off from Northrop Grumman (including our increased costs and leverage); our ability to realize the expected benefits from consolidation of our Gulf Coast facilities; natural disasters; adverse economic conditions in the United States and globally; 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.
About Huntington Ingalls
Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder. Employing more than 37,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding. For more information, visit:
- HII on the web: www.huntingtoningalls.com
- HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries
- HII on Twitter: twitter.com/hiindustries
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