Russian Ship Runs Aground in Istanbul
Bad weather forced a Russian ship to run aground in Istanbul on Friday and the crew was awaiting rescue, Turkey's Dogan news agency reported. The ship ran aground near Istanbul's Kartal district, on the Asian side of the city and on the coast of the Sea of Marmara, Dogan reported. Istanbul's European and Asian sides are separated by the Bosphorus Strait, an important international shipping lane for oil and grain. (Reporting by Yesim Dikmen; Writing by David Dolan)
HII Acquires Camber Corp
Huntington Ingalls Industries (NYSE:HII) announced today that it has completed its previously announced acquisition of Camber Corporation and formed a new operating division, HII Technical Solutions. The new division will be led by Andy Green, who will serve as an executive vice president of HII and president of HII Technical Solutions, reporting directly to HII President and CEO Mike Petters. “The acquisition of Camber and the consolidation of our existing service businesses…
Morocco: Four Migrants Drown, 34 Rescued
Four African migrants drowned and 34 were rescued after their boat sank in the Mediterranean on Wednesday, Moroccan authorities said. The Mediterranean between Morocco and Spain was a major route around 10 years ago for migrants from Africa trying to reach Europe, but numbers fell after the two kingdoms tightened control. Moroccan authorities said the group was on an inflatable boat off the northern city of Al-Hoceima, a statement carried by state news agency MAP said. It was unclear if the boat was heading to Spain or to one of the Spanish enclaves, Ceuta and Melilla, on the Moroccan coast. Morocco said an investigation was still underway.
Thirty-five People Rescued from Ferry that Sank off Yemen
At least 35 of the 64 people who were on a ferry that sank off Yemen have been rescued, a Yemeni minister said on Wednesday. Rescue teams continued to look for survivors from the boat that was en route from Hadramout province in mainland Yemen to the island of Socotra, Fisheries Minister Fahad Kaffen said on his Facebook page. Socotra and Hadramout are under the control of the government of President Abd-Rabbu Mansour Hadi, which is in a war with the Houthis who control most of northern Yemen. The Aden al-Ghad news website said the ship was believed to have suffered an accident and authorities at Hadramout's Mukalla port lost contact with it on Tuesday evening. It sank 40 km (25 miles) northwest of Socotra, an archipelago some 380 km south of mainland Yemen.
Fugro's Shares Sink after Boskalis Trims Holding
Shares in Dutch deep-sea prospector Fugro fell 4.5 percent on Monday after larger rival Boskalis announced that it had trimmed its holding in the company. A statement from dredging and marine engineering company Boskalis said that its holding in Fugro now stands at 24.9 percent. Boskalis had built a stake of as much as 28.6 percent at the end of 2015 in what was widely seen as a first step towards buying Fugro. Boskalis also took Fugro to court in an attempt to strip away some of the company's poison pill defenses but lost its case in May.
USS Enterprise Anchor Installed on USS Abraham Lincoln
Although the aircraft carrier USS Enterprise (CVN 65) is scheduled to be decommissioned in 2016, its legacy lives on, and so does one of its anchors. Huntington Ingalls Industries' (HII) Newport News Shipbuilding division recently installed one of Enterprise's anchors on younger carrier USS Abraham Lincoln (CVN 72). USS Enterprise, originally built by Newport News in the 1960s and refueled for the third and final time in the early '90s, is currently docked at the shipyard's Pier 2 for inactivation.
Northrop Grumman to Provide Revised Financial Guidance
offerings. The company said that the revised financial guidance assumes the acquisition of Newport News Shipbuilding, the issuance of common stock and equity security units of approximately $1.2 billion, and reflects the previously announced work stoppage on the Project America cruise ship program. Shipbuilding.
Maritime Global News App Launch at SMM
New Maritime Global News App launch at the Maritime Reporter and Engineering News at SMM in Hall B7, Stand 603. Maritime Reporter is changing the way our industry gets its news with the all new Maritime Global News App. This free mobile app is perfect for the busy maritime professional on the move. Updated regularly, the Maritime Global News app delivers all the news you need and want directly to your mobile devices from the world’s leading source for maritime business news and information Maritime Reporter and Engineering News.
Newport News Shipbuilding Notified of Department of Defense Recommendation
News Shipbuilding and General Dynamics. proposed merger between NNS and GD. 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.
Northrop Grumman Newport News Wins $6M Contract
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. The Supervisor of Shipbuilding, Conversion and Repair, USN, Newport News, Va., is the contracting activity.
Northrop Grumman, Newport News Shipbuilding Announce Definitive Merger Agreement
Northrop Grumman Corporation and Newport News Shipbuilding Inc. announced today that they have signed a definitive agreement under which Northrop Grumman will acquire Newport News Shipbuilding. The boards of directors of both companies approved the terms of the transaction in which Northrop Grumman will acquire all the outstanding shares of Newport News. $67.50, subject to certain limitations and proration procedures. Northrop Grumman expects to promptly amend its existing offer documents in order to reflect the merger agreement. Shipbuilding shareholders will have the same right to elect to receive cash or shares of Northrop Grumman stock as described above. Kent Kresa, Northrop Grumman chairman and chief executive officer.
NNS Supports SCA Welding Education Program
Huntington Ingalls Industries informs that its Newport News Shipbuilding division has donated training materials to the Southern Carolina Regional Development Alliance (SCA) for a welding program in Allendale County, S.C. The SCA's Advanced Manufacturing Skills Training Program has already provided 47 students with welding training. The SCA is now working to expand the program by implementing curricula developed and used by Newport News Shipbuilding. In addition to the training materials presented to the SCA today…
Newport News Shipbuilding Bags US Navy Submarine Contract
The U.S. Navy has given Newport News Shipbuilding a $106 million contract to provide engineering and industrial support for submarines. Huntington Ingalls Industries, parent company of Newport News Shipbuilding, said the contract will be worth a total of $564 million, as the special mission submersibles, submarine support facilities and related programs are also covered by the contract. Newport News Shipbuilding is one of only two U.S. shipyards capable of building nuclear-powered submarines and has completed hundreds of ship repair projects for the government…
Northrop Grumman Completes Tender Offer for Newport News Shipbuilding
Northrop Grumman Corporation announced today the completion of its tender offer for all of the outstanding shares of Newport News Shipbuilding Inc., creating the world's largest naval shipbuilder. E.S.T. on November 29, 2001. exchange. The exchange agent for the offer has advised Northrop Grumman that a total of approximately 26,469,213 shares were tendered in the offer, including approximately 14,503,155 delivered through notice of guaranteed delivery. common stock. "Northrop Grumman is now a world-class, fully capable shipbuilding company with expertise in every class of nuclear and non-nuclear vessel," said Kent Kresa, Northrop Grumman's chairman and chief executive officer.
Navy Modifies Huntington Ingalls Materials Contract
Huntington Ingalls, Inc., Newport News Shipbuilding, Newport News, Va., is being awarded $11,069,510 modification to previously awarded contract (N00024-08-C-2110) to purchase previously planned materials in support of USS Gerald R. Ford (CVN 78) construction. Work will be performed in Newport News, Va., and is expected to complete by September 2015. Contract funds will not expire at the end of the current fiscal year. Supervisor of Shipbuilding Conversion and Repair, Newport News, Va., is the contracting activity.
Navy Offers $5.7M Contract to Newport News Shipbuilding and Dry Dock Co.
Newport News Shipbuilding and Dry Dock Co., Newport News, Va., is being awarded a $5.73m modification to previously awarded contract for Planning and Design Yard functions for Standard Navy Valves in support of Nuclear Powered Submarines. Work will be performed in Newport News, Va., and is expected to be completed by September 2008. Contract funds will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.
Newport News Wins SSN709 Job
Northrop Grumman Newport News Shipbuilding, Newport News, Va., is being awarded a $36,719,942 firm-fixed-price delivery order under previously awarded indefinite delivery/indefinite quantity contract (N00024-04-D-4409) for the interim dry-docking of USS Hyman G. Rickover (SSN 709). Work will be performed in Newport News, Va., and is expected to be completed by February 2005. Contract funds in the amount of $3,200,000, will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington Navy Yard, DC, is the contracting activity.
Newport News Awarded $5.6m Contract
Newport News Shipbuilding and Dry Dock Co., Newport News Va., is being awarded a $5.6m cost-plus-fixed-fee, level of effort contract for planning and design yard functions for standard Navy valves in support of nuclear powered submarines. Work will be performed in Newport News, Va., and is expected to be completed by September 2007. The contract, worth $5.6m, will expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.
Northrop Grumman Announces Newport News Shipbuilding Exchange Ratio
Northrop Grumman Corporation announced in connection with its offer to acquire all of the outstanding shares (including associated preferred stock purchase rights) of Newport News Shipbuilding that the exchange ratio for the common stock of Newport News has been fixed at 0.7193. Accordingly, stockholders of Newport News who elect to receive solely Northrop Grumman common stock in the offer will receive approximately 0.7193 shares for each share of Newport News common stock validly tendered by the expiration of the offer (subject to the proration procedures and limitations described in the offer) provided the offering period expires at 12:00 midnight New York City time on Nov. 29, 2001.
Newport News Shipbuilding Receives Revised Proposal From Northrop Grumman
stockholders would be adjusted so that Newport News stockholders would receive a value of $67.50 per share if the market value of Northrop Grumman Common Stock does not exceed $100 per share and is not less than $80 per share. Newport News said that it has been advised by Northrop Grumman that the Northrop Grumman Board of Directors has approved this proposal. Newport News said that it expects that its Board of Directors will meet on Wednesday, November 7, to consider the new Northrop Grumman proposal. The proposal is subject to the negotiation of a mutually satisfactory merger agreement. There can be no assurance that such an agreement will be reached.
General Dynamics To Buy Newport News Shipbuilding
General Dynamics Corp. said it would buy rival Newport News Shipbuilding Inc. for $2.1 billion in cash, creating the only U.S. builder of aircraft carriers and submarines for the U.S. Navy. General Dynamics' bid comes amid renewed consolidation in the defense industry, following Northrop Grumman Corp.'s $3.8 billion purchase last year of shipbuilder Litton Industries. The deal, if approved by regulators, would leave only two major U.S. contractors for naval military ships. Under terms of the transaction, General Dynamics will pay $67.50 for each of Newport News' 31.9 million shares outstanding and assume about $500 million in Newport News debt. The offer represents a 23 percent premium to Newport News' closing stock price of $55.05 on Tuesday.
Northrop Grumman Announces Leadership Appointments
Irwin F. Edenzon, vice president and general manager for the Gulf Coast for Northrop Grumman Shipbuilding. Corporation announced two newly created and key positions at its Shipbuilding sector. Matthew J. Mulherin has been appointed sector vice president and general manager of Newport News, and Irwin F. Edenzon has been appointed sector vice president and general manager for the Gulf Coast. They will report to Mike Petters, corporate vice president and president of Northrop Grumman Shipbuilding…
Newport News Shipbuilding Rings in 130 Years
Huntington Ingalls Industries’ (HII) Newport News Shipbuilding division kicked off its 130th anniversary celebration January 28. Newport News, the sole designer, builder and refueler of U.S. Navy aircraft carriers and one of two providers of U.S. Navy submarines, will celebrate the anniversary throughout 2016 with commemorative videos and employee publications. More than 100 local businesses, museums, schools and civic leaders provided congratulatory video messages that will be released each week throughout the year.