Photo Release -- Ingalls Shipbuilding Awarded $76.8 Million Advance
Procurement Contract for Seventh NSC
PASCAGOULA, Miss., June 14, 2013 (GLOBE NEWSWIRE) -- Huntington Ingalls
Industries' (NYSE:HII) Ingalls Shipbuilding division today received a $76.8
million fixed-price contract from the U.S. Coast Guard to purchase long-lead
materials for Kimball (WMSL 756), the company's seventh National Security
Cutter (NSC). Construction and delivery will be performed at the company's
USCGC Stratton (WMSL 752)
USCGC Stratton (WMSL 752), the third
National Security Cutter (NSC) built by
Ingalls Shipbuilding, conducts a
reconnaissance demonstration in the
Pacific Ocean in August 2012. The
fourth NSC, Hamilton (WMSL 753), will
be christened in October. Ingalls
recently laid the keel for James (WMSL
754) and will begin construction on
Munro (WMSL 755) later this year. U.S.
Coast Guard photo
A photo accompanying this release is available at
"This advance procurement contract allows us to maintain production line and
supplier base momentum while we prepare for the ship construction contract,"
said Jim French, Ingalls' NSC program manager. "Advance procurement funding
helps us procure equipment and materials at favorable prices from our
suppliers, and it keeps their production line flowing as well. The Coast Guard
continues to report their satisfaction with these ships, and we remain focused
on improving our performance."
The advance procurement funds will be used to purchase major items for
Kimball, such as steel, the main propulsion systems, generators, electrical
switchboards and major castings.
Ingalls has delivered three NSCs, designed to replace the 378‐foot
Hamilton-class High-Endurance Cutters that entered service during the 1960s.
Ingalls' fourth NSC, Hamilton (WMSL 753), will launch later this year and be
christened on Oct. 26. The keel was recently laid on the fifth cutter, James
(WMSL 754), and construction will begin on the company's sixth cutter, Munro
(WMSL 755), later this year.
Ingalls will continue to work with Lockheed Martin, which provides the
command, control, communications, computers, intelligence, surveillance and
reconnaissance (C4ISR) capabilities.
NSCs, the flagship of the Coast Guard's cutter fleet, are 418 feet long with a
54-foot beam and displace 4,500 tons with a full load. They have a top speed
of 28 knots, a range of 12,000 miles, an endurance of 60 days and a crew of
The Legend-class NSC is capable of meeting all maritime security mission needs
required of the High-Endurance Cutter. The cutter includes an aft launch and
recovery area for two rigid hull inflatable boats and a flight deck to
accommodate a range of manned and unmanned rotary wing aircraft. It is the
largest and most technologically advanced class of cutter in the U.S. Coast
Guard, with robust capabilities for maritime homeland security, law
enforcement, marine safety, environmental protection and national defense
missions. This class of cutters plays an important role in enhancing the Coast
Guard's operational readiness, capacity and effectiveness at a time when the
demand for their services has never been greater.
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
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: Bill Glenn
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