UPDATE: Cruise Ships to Move

Thursday, November 01, 2001
According to a Northrop Grumman spokesman, the first Project America cruise ship -- which is 45 to 50 percent complete -- will soon be moved to free up precious production space at the company's Pascagoula facility. The company, which was rebuffed by the U.S. Maritime Administration to continue funding the ships in light of the bankruptcy filing by AMCV, is "weighing its options" as to the future of the vessels. The company earlier today announced it was taking a pretax charge totalling $60 million in the third quarter of 2001.
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