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March 14, 2014
17:14 EDTHIIHuntington Ingalls awarded $602M government contract
Huntington Ingalls, Pascagoula, Miss., is being provided funding in the amount of $601,990,190 under previously awarded contract (N00024-13-C-2307) to fund construction and exercised options for one DDG 51 class ship in fiscal 2014. The modification also provides $79,400,000 in advanced procurement funding for the fiscal 2016-2017 ships. Work is expected to be completed by July 2023. Contract funds will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.
News For HII From The Last 14 Days
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June 29, 2015
07:22 EDTHIIBWX Technologies would be M&A fit for Huntington Ingalls, says Deutsche Bank
Deutsche Bank noted that the planned spin-off of BWX Technologies (BWXT) from Babcock & Wilcox (BWC) is scheduled to be completed this week on July 1, stating that it believes the spun off company is likely to attract the attention of strategic players such as Huntington Ingalls (HII) and General Dynamics (GD). The firm thinks the potential M&A fit looks "most striking" for Huntington and estimates that a deal multiple could reach 10-11X the about $300M in EBITDA at BWX Technologies, which would likely be "worth the stretch" for the shipbuilder.
June 26, 2015
15:17 EDTHIIHuntington Ingalls unit awarded contract valued at up to $65M
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June 22, 2015
17:28 EDTHIIHuntington Ingalls division awarded $23.8M Navy contract
Huntington Ingalls Industries announced that its Newport News Shipbuilding division has received a $23.8M contract from the U.S. Navy for nuclear propulsion and complex modernization work on the aircraft carrier USS George H.W. Bush as part of its planned incremental availability. The contract is for work to be completed between June and November at Norfolk Naval Shipyard and will include planning, procurement, fabrication, execution and testing.

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