Photo Release -- Additional Funding Awarded to Continue Preparation Work for
Construction of Aircraft Carrier John F. Kennedy (CVN 79)
NEWPORT NEWS, Va., May 6, 2013 (GLOBE NEWSWIRE) -- Huntington Ingalls
Industries (NYSE:HII) announced today that its Newport News Shipbuilding (NNS)
division has received an increase of $60.8 million to a previously awarded
construction preparation contract for purchase of materials in support of
aircraft carrier John F. Kennedy (CVN 79) construction.
A photo illustration of the aircraft
carrier John F. Kennedy (CVN 79). Funds
awarded to Newport News Shipbuilding
under a contract modification will be
used to purchase long-lead-time
materials such as air conditioning
systems, controllers and pumps.
A photo accompanying this release is available at
The funds awarded to NNS will be used to purchase long-lead-time materials
such as air conditioning systems, controllers and pumps. NNS has performed
work on CVN 79 under a construction preparation contract that allows for
engineering, planning, long-lead-time material procurement and initial
manufacturing to begin before the full construction contract is awarded to
improve efficiency. The construction contract is anticipated later this year.
"This additional funding helps us keep our momentum in meeting our efficiency
objectives," said Mike Shawcross, NNS vice president, CVN 79 construction. "We
have been working with our suppliers to come up with more affordable ways to
procure material for the Kennedy, and this contract modification is an example
of implementing some of these initiatives."
John F. Kennedy (CVN 79) will continue the Ford-class legacy of highly capable
U.S. Navy nuclear-powered aircraft carrier ship platforms. Enhancements
incorporated into the Ford-class design include flight deck changes, improved
weapons handling systems and a redesigned island, all resulting in increased
aircraft sortie generation rates. It will also include new nuclear power
plants, increased electrical power generation capacity, allowance for future
technologies and reduced workload for the sailors, translating to a smaller
crew size and reduced operating costs for the Navy.
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 at
its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Employing
about 37,000 in Virginia, Mississippi, Louisiana and California, HII also
provides a wide variety of products and services to the commercial energy
industry and other government customers, including the Department of Energy.
For more information about HII, visit:
*HII on the web: www.huntingtoningalls.com
*HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries
*HII on Twitter: twitter.com/hiindustries
The Huntington Ingalls Industries, Inc. logo is available at
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
CONTACT: Christie Miller
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