Ingalls to Build US Warship LH8
Huntington Ingalls Industries (HII) announced that its Ingalls Shipbuilding division has been selected to build the U.S. Navy’s next large-deck amphibious assault warship, LHA 8. Ingalls has also been selected to perform the majority of the contract design work for the U.S. Navy’s amphibious warfare ship replacement, known as LX(R).The U.S. Department of Defense announced both contracts June 30. The LH8 contract – which includes the planning, advanced engineering and procurement of long-lead material – is valued at $272…
Port of Cleveland Approves Refinancing
The Port of Cleveland’s Board of Directors voted today to provide up to $161 million to support the combined refinancing of four previous economic development projects, as well as approved the acceptance of a Homeland Security grant. Issuing up to $5 million in lease revenue bonds in support of the Euclid facilities of Babcock & Wilcox Nuclear Operations Group, which is refinancing the outstanding balance of Port bonds issued in 2004. Issuing up to $16 million in tax-exempt senior housing bonds for Vista Prairie at Emerald Village…
Ingalls Shipbuilding Visited by Mississippi Senator Cochran
Huntington Ingalls Industries' Ingalls Shipbuilding division inform of the recent visit of U.S. Sen. Thad Cochran of Mississippi to its facility. Cochran visited various areas of the shipyard and toured the National Security Cutter 'Hamilton' (WMSL 753). "Ingalls Shipbuilding employs thousands of Mississippians building ships that are essential to our national defense," Cochran said. "The Marine Corps, Navy and Coast Guard are all stronger because of the high-quality, modern vessels constructed here by Mississippians.
HII's Barb Niland Named Top CFO by Virginia Business Magazine
Barb Niland, HII's corporate vice president of business management & chief financial officer, was recognized in the publicly traded companies category. "I am honored to work with more than 37,000 of the most talented shipbuilders in the world," Niland said upon receiving the award at the eighth annual CFO Awards Banquet in Richmond. Niland is the CFO of the largest manufacturing employer in Virginia and one of the state's 23 Fortune 500 companies. She led HII's spin-off from Northrop Grumman Corp. in 2011 and successfully transitioned from a business unit CFO to a public company CFO.
Report: Miss. Shipbuilding Should Boom
According to the Sun Herald over the next few years Mississippi's shipbuilding industry should see its share of the defense spending bill passed by federal lawmakers lastThursday. About $2.6b of the $447.6b defense appropriations bill approved by Congress this week is earmarked for construction of two naval destroyers; Ingalls Shipyard will build one and parts of the other. A total of $10.6 billion of defense funding will go toward shipbuilding in fiscal 2007. After negotiators reached a compromise between the House and Senate versions of the bill earlier this week, it was passed by the House Tuesday 394-22, and then approved by the Senate on Friday by a vote of 100-0.
Northrop Grumman Reworks Hurricane Plans
According to the AP, with the next hurricane season two weeks away, Northrop Grumman Ship Systems has made changes in its plans to protect its coastal shipbuilding facilities and recover from a storm as powerful as Hurricane Katrina, a company official said Tuesday. Northrop Grumman, which bills itself as the world's largest military shipbuilder, will evacuate workers and start securing its facilities in Pascagoula, Gulfport and New Orleans at least 24 to 36 hours earlier than it typically did for past hurricanes, officials said. Vehicles and equipment will be moved to higher ground. Water, food, generators and gasoline will be stockpiled in greater quantities. Fewer workers will stay behind to ride out the storm.
Northrop Grumman Gulf Coast Shipyards Return to Work
Northrop Grumman Corporation said yesterday that its Ship Systems sector has put out the call to all its shipbuilders who can return to work at its Pascagoula and New Orleans shipyards on Monday, Sept. 12, to do so. work beginning Monday, Sept. continue at all sector facilities. Systems. communities. week. ships currently under construction at the Ship Systems yards Monday. Coast Guard cutter, and oil tanker currently under construction. shipbuilding work. respond to the call to work Monday. facility cleanup, repair and restoration. (LPD-17). instructed to contact their supervisors. may request additional leave time. as well as in a network of fleet support offices in the U.S. and Japan. support of major surface ships for the U.S. Navy, U.S. international navies.
