Huntington Ingalls to Explore Opportunities for Avondale Redevelopment

Posted by Joseph R. Fonseca
Friday, April 11, 2014

 Huntington Ingalls Industries announced today it will conduct a study with Kinder Morgan Energy Partners, L.P. (NYSE:KMP) to explore redeveloping Huntington Ingalls Industries' Avondale shipyard in Louisiana.

 
Since the July 2010 announcement to close Avondale, HII has aggressively sought a strategic solution to redevelop the facility. The study will explore and evaluate best-use opportunities for the facility. Once the study is completed and a determination has been made for an economically viable, best use of the facility, HII and Kinder Morgan Energy Partners may pursue the formation of a joint venture to re-purpose the Avondale site.
 
Avondale's location on the Mississippi River offers unparalleled access to major markets by truck, rail and sea, making it attractive for many uses.
 
Statements in this release regarding our plans and expectations constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Factors that may cause such differences include future developments that could impact our decisions regarding Avondale and other risk factors discussed in our filings with the U.S. Securities and Exchange Commission. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business, and we undertake no obligations to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make.
 
(NYSE:HII)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

RS Class New Ships for the Caspian Sea

Russian Maritime Register of Shipping (RS) has signed a contract with Baku Shipyard LLC for the construction of three 38М high speed crewboats (designer - SHIPTECH,

North Sea Atlantic Joins the Technip fleet

On Saturday July 26, 2014, a ceremony was held in Bergen to officially name the latest new subsea construction vessel to join the Technip fleet, the North Sea Atlantic.

New Australian Navy Submarines to be Japan Built?

Australia should discuss building its next-generation fleet of submarines overseas, the Department of Defence said on Monday, a shift that could open the door to

News

Diana Shipping Invests in Diana Containerships

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase

Tripoli Airport Ablaze, Rockets Leave Libya in Chaos

Diplomats flee Libyan chaos; Politicians appeal for international intervention. Clashes in Tripoli, Benghazi kill around 160 over two weeks, while Libyan capital face fuel, power shortages.

RS Class New Ships for the Caspian Sea

Russian Maritime Register of Shipping (RS) has signed a contract with Baku Shipyard LLC for the construction of three 38М high speed crewboats (designer - SHIPTECH,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0941 sec (11 req/sec)