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 July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

RoRo Launched for Royal Bahamas Defense Force

A Damen RoRo 5612 was launched this month at Halong Shipyard in Vietnam, the shipbuilder announced. The RoRo is one of nine Damen vessels ordered by the Royal

Bollinger Delivers 14th FRC to USCG

Bollinger Shipyards has delivered the 14th Fast Response Cutter (FRC), Heriberto Hernandez, to the United States Coast Guard (USCG). The 154-foot patrol craft

Maritime Museum Christens San Salvador Replica

The Spanish ship San Salvador is the embodiment of California’s origin story. The ship’s voyage in 1542, with Juan Rodríguez Cabrillo at the helm, established California

News

AEU Presents Safety Awards

The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla.

UK Navy Chooses Effer Crane Again

Cranes manufacturer Effer informs its marine crane has recently been installed aboard the U.K. Royal Navy’s patrol vessel HMS Mersey.   The new 5s 275M crane,

US Senate Energy Panel Votes to Lift Oil Export Ban

The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil.   The 22-member panel passed the bill

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.1548 sec (6 req/sec)