Newport News Shipbuilding was notified by the Department of Defense (DOD) of its decision to recommend to the Department of Justice (DOJ) approval of the Northrop Grumman offer to acquire Newport News Shipbuilding and its decision to recommend not approving the merger agreement between Newport News Shipbuilding and General Dynamics. Newport News Shipbuilding was also notified that the DOJ has commenced legal proceedings to prevent the proposed merger between NNS and GD. Newport News Shipbuilding began discussions with Northrop Grumman three weeks ago to determine whether a mutually acceptable transaction between the two companies can be negotiated. Any agreement reached between Newport News Shipbuilding and Northrop Grumman would require the approval of the Newport News Shipbuilding Board of Directors.
Newport Exhibition Group, owners and producers of the Newport International Boat Show, announced today the results of this year’s Newport For New ProductsTM (NFNP) Awards. Judged on Thursday during the opening day of the Newport International Boat Show and announced at an awards ceremony on Friday, the tenth-annual NFNP winners are: Best New Navigation Product - Dockwa Marine Reservation App Best New Boating Operation
U.S. defense contractor Northrop Grumman Corp. on Thursday said it has extended its tender offer for the outstanding shares of Newport News Shipbuilding, after the Justice Department requested additional information about the takeover. Los Angeles-based Northrop said it extended its tender offer for Newport News, to July 5 at midnight EDT from the previous June 20 deadline. About 861,000 shares of Newport News common stock had been tendered as of midnight June 20, Northrop said.
Following is the full text of the letter submitted to William P. Fricks, Chairman and CEO of Newport News Shipbuilding, from Kent Kresa Chairman, President and CEO, Northrop Grumman Corporation, regarding the proposed takeover of Newport News Shipbuilding. Mr. William P. Fricks Chairman and Chief Executive Officer Newport News Shipbuilding Inc. 4101 Washington Avenue Newport News, VA23607-2770 Dear Bill,
Northrop Grumman Newport News, Newport News, Va., is being awarded a $6m cost-plus-fixed-fee modification under previously awarded contract to exercise an option for FY 08 advance Extended Drydocking Selected Restricted Availability (EDSRA) planning for USS Enterprise (CVN 65). Work will be performed in Newport News, Va., and is expected to be completed by February 2008. Contract funds will expire at the end of the current fiscal year
A project has been established to identify energy efficiency and fuel saving initiatives for the offshore shipping industry. The partnership involves a collaboration of seven Norwegian offshore shipping companies. The Joint Industry Project is called Energy Efficient Offshore Partners, and consists of: BOA Offshore, Eidesvik Offshore, Farstad Shipping, Gulf Offshore Norge, Havila Shipping, Siem Offshore and Solstad Offshore
With General Dynamics Corp. and Northrop Grumman Corp. battling for Newport News Shipbuilding Inc. both the Pentagon and Virginia's powerful delegation in Congress are ready to step into the fray over who buys the nuclear-capable contractor. Defense Department officials are likely to weigh the cost benefits of each deal, questioning which combination would lower the price of nuclear-powered vessels for the U.S. Navy.
Northrop Grumman Corporation announced that it received a contract award for dry docking work on the nuclear-powered submarine USS Minneapolis-St. Paul (SSN 708). The work will be performed at the Newport News sector in Newport News, Va. The contract, valued at approximately $23 million, will include replacement of the tail shaft, removal and overhaul of the main and auxiliary sea valves, inspection and repair of all external and
Northrop Grumman Corporation’s Newport News sector has appointed David Reith to the position of controller. In this role, Reith has responsibility for internal systems and process controls for Newport News' accounting and operations finance functions. Reith will report to Linda Leukhardt, vice president of Business Management and chief financial officer for the Newport News sector. "Dave's considerable business and financial management experience will be a significant asset to the Newport
Marine Travelift Inc. announced that Newport Shipyard has purchased a customized 200CII mobile boat hoist for its Newport, R.I. facility. When it’s delivered this fall, the machine will join the 70-, 100- and 500-ton Marine Travelift hoists currently in operation. The new 200CII boasts the first top-beam extension on a Marine Travelift 200-ton hoist and has been designed to use piers that were dedicated to a 100-ton machine and to travel into an indoor workspace.
Subsea 7 S.A. said it has been awarded a “sizeable” contract by Cooper Energy Ltd for the Sole Development Project, offshore Australia. Subsea 7 defines a sizeable contract as being between $50 million and $150 million.
BOEM has received unsolicited lease requests from two companies seeking to develop offshore wind energy on the Outer Continental Shelf (OCS). These requests are for areas located offshore New York and Massachusetts and are not in response to a formal call for interest.
ABS, the leading provider of classification and technical services to the offshore industry, collaborated with industry experts during its annual Special Committee Meeting held recently to discuss the ABS Rules for Building and Classing Mobile Offshore Drilling Units (MODUs)
DONG Energy has decided to retire “Vindeby”, the world’s first offshore wind farm, which 25 years ago marked the birth of the offshore wind industry. Today, offshore wind is a recognised and proven renewable energy technology
ELA Container Offshore GmbH said it has delivered two offshore living quarters to Belgium based G-Tec Offshore s.a. The containers were placed on board of the multipurpose drilling vessel MV Omalius off the coast of France. The solution on deck turned out to be very successful as the units
Jakarta, Indonesia-based maritime training center PT Azureus Simulator Asia has chosen KONGSBERG’s Dynamic Positioning (DP) simulators to help it meet significant growth in regional demand for offshore operational training. Due for delivery in June 2017
Expectations at the start of the year that 2016 would be a tough one for the oil industry, and in particular for offshore, were on the whole fulfilled, says Clarksons Research report. Overall upstream E&P spending globally fell for the second successive year
Offshore managed to deliver all required containers from scratch in only 3 months from project kick-off, including design and development up to turnkey delivery on an offshore converter station in the German North Sea. “To come up with the best suitable container type
Huntington Ingalls Industries announced today that its Board of Directors has declared a quarterly cash dividend of $0.60 per share, payable on March 10, 2017, to shareholders of record as of the close of business on March 3, 2017. Huntington Ingalls Industries is America’s largest
Mitsui O.S.K. Lines, Ltd. today announced a plan to acquire a 5% share in Seajacks International Limited (Seajacks) Group, which owns and operates five Self-Elevating Platform vessels(*1), from Marubeni Corporation. This is a new offshore business for MOL, following FPSO(*2), FSRU (*3)
Huntington Ingalls Industries (HII) hosted Rep. Kay Granger, R-Texas, on February 23 for a tour of the company’s Newport News Shipbuilding division. Newport News Shipbuilding President Matt Mulherin accompanied the congresswoman on the shipyard tour
Mitsui O.S.K. Lines is investing in self-elevating platform vessel operator Seajacks International Limited (Seajacks) to move into offshore business following FPSO, FSRU, Shuttle Tanker, and Subsea Support Vessel. MOL has announced a plan to acquire a 5% share in Seajacks
Huntington Ingalls Industries (HII) hosted commencement exercises on Saturday for 184 graduates of the company’s Apprentice School located at Newport News Shipbuilding. The ceremony was held at Liberty Baptist Church Worship Center in Hampton.
Following President Trump’s address to the joint session of Congress, National Ocean Industries Association (NOIA) president Randall Luthi weighs in on shifting U.S. policy and its effects on offshore energy and the American economy.
GustoMSC, a Dutch design and engineering company focused on offshore energy, says the offshore industry has much to gain from examining the feasibility of using liquefied natural gas (LNG) to fuel mobile offshore units such as construction vessels, drillships, jack-ups and semi-submersibles.