NEWPORT NEWS, Va., Oct. 23, 2019 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE: HII) announced today that it is one of eight companies included on a contract to provide broad analytical and technical services to the U.S. Air Force in areas such as network architecture and cybersecurity. The multiple-award contract, recently awarded by the Secretary of the Air Force, Administrative Assistant’s Concepts, Development and Management Office (SAF/CDM), has a base period of five years and a potential value of $950 million.
“The assimilation of intelligence tools is essential to military readiness,” said Garry Schwartz, president of Technical Solutions’ Mission Driven Innovative Solutions group. “Over the last several years, HII has continued to expand its support to the U.S. Air Force and the Department of Defense (DoD). We are looking forward to helping advance the creation and implementation of innovative solutions across the DoD.”
The contract will allow for the development of new concepts and management of high-priority projects and programs providing innovative solutions to Air Force and defense-wide challenges. SAF/CDM’s mission is to be the partner choice for innovation, discovery and opportunity development within the Department of Defense.
The contract was directly awarded to Fulcrum IT Services, a company acquired by HII in February and is now a part of HII’s Technical Solutions division.
Technical Solutions has nearly 6,000 employees in 45 states and 16 countries, providing professional services and business solutions to a variety of government and commercial customers worldwide.
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, Mission Driven Innovative Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs more than 41,000 people operating both domestically and internationally. For more information, visit:
Statements in this release, as well as other statements we may make from time to time, 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; our ability to execute our strategic plan, including with respect to share repurchases, dividends, capital expenditures, and strategic acquisitions; 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 or revise any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make.
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