Huntington Ingalls Industries Awarded $187 Million Advance Procurement Contract for Amphibious Assault Ship LHA 9
Huntington Ingalls Industries (NYSE:HII) has secured a $187.46 million advance procurement contract from the U.S. Navy for long-lead-time materials for the amphibious assault ship LHA 9.
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Rhea-AI Summary
Huntington Ingalls Industries (NYSE:HII) has secured a $187.46 million advance procurement contract from the U.S. Navy for long-lead-time materials for the amphibious assault ship LHA 9. This contract aims to bolster the health of the shipbuilding supply base and supports ongoing large-deck amphibious ship production. Ingalls is the sole builder of these ships, having previously delivered multiple classes, including the Tarawa and Wasp classes. The current construction includes Bougainville (LHA 8), with the latest ship, Tripoli (LHA 7), delivered earlier this year.
Positive
- Secured a $187.46 million contract from the U.S. Navy.
- Supports long-term production of amphibious assault ships.
- Ingalls is the only builder of large-deck amphibious ships for the Navy.
Negative
- None.
Details
News Market Reaction – HII
The recorded move for HII in the trading session of this news was +1.49%.
Data tracked by StockTitan Argus. Session date unavailable.
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PASCAGOULA, Miss., May 05, 2020 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its Ingalls Shipbuilding division has received a
“This contract allows us to maintain the health of our critical nationwide shipbuilding supplier base while continuing our serial production of large-deck amphibs,” Ingalls Shipbuilding President Brian Cuccias said. “We will work closely with our Navy-Marine Corps partners and our suppliers across the U.S. to build another highly capable, versatile and survivable warship.”
Ingalls is currently the sole builder of large-deck amphibious ships for the Navy. The shipyard delivered its first amphibious assault ship, the Iwo Jima-class USS Tripoli (LPH 10), in 1966. Ingalls has since built five Tarawa-class (LHA 1) ships, eight Wasp-class (LHD 1) ships and the first in a new class of amphibious assault ships, America (LHA 6), in 2014. The second ship in that class, Tripoli (LHA 7), was delivered to the Navy earlier this year. Bougainville (LHA 8) is currently under construction.
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 supports national security missions around the globe with unmanned systems, defense and federal solutions, nuclear and environmental services, and fleet sustainment. Headquartered in Newport News, Virginia, HII employs more than 42,000 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: www.twitter.com/hiindustries
Contact:
Teckie Hinkebein
teckie.hinkebein@hii-co.com
(228) 935-1323
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