HII Creates Nuclear Services Company SN3
Combining Huntington Ingalls Industries’ (HII) S.M. Stoller Corp. and Newport News Nuclear subsidiaries, the company has created Stoller Newport News Nuclear (SN3), a full-service nuclear operations and environmental services company. "Formation of SN3 is a logical next step in the post-acquisition process of fully integrating our people and capabilities to achieve our business goals," said Pete Diakun, vice president, energy programs at HII's Newport News Shipbuilding division.
HII Acquires Environmental & Nuclear Specialists Stoller Corp
Huntington Ingalls Industries (HII) has acquired The S.M. Stoller Corporation (Stoller), a leading provider of environmental, nuclear, and technical consulting and engineering services to the Department of Energy, Department of Defense and the private sector. Stoller will be a wholly owned subsidiary of HII and will operate under its NNS division. NNS is the nation's sole designer, builder and refueler of nuclear-powered aircraft carriers and one of only two shipyards capable of designing and building nuclear‐powered submarines.
Newport News Shipbuilding Opens S.C. Office
Huntington Ingalls Industries (NYSE:HII) announce that its Newport News Shipbuilding (NNS) division has opened a field office in Aiken, S.C., as part of its continuing efforts to expand the company's business in the Department of Energy and commercial energy markets. NNS leadership joined community leaders to officially open the office with a ribbon-cutting event (see photo). HII explain that the Aiken office will provide a location from which NNS will manage jobs currently under contract in the area and pursue additional opportunities in the energy industry.
Arena Named VP at Shipbuilder
Huntington Ingalls Industries announced today that Jon Arena has been named vice president and chief counsel of HII’s Newport News Shipbuilding division. He will succeed Jim Gildea, who retired on April 1. Arena will be a key member of the law department’s leadership team, reporting directly to Kellye Walker, executive vice president and chief legal officer, and indirectly to Newport News Shipbuilding President Jennifer Boykin. In this role, he will be responsible for providing…
Huntington Ingalls Says Steel Tariffs Won't Raise Prices for Now
Huntington Ingalls Industries, the largest shipbuilder for the U.S. government, said new tariffs on steel and aluminum should not impact the price of its own shipbuilding in the near-term, but does not know if tariffs will raise prices for its suppliers. Huntington's Newport News Shipbuilding yard in Virginia has a multi-year financial agreement that guarantees steady pricing for its steel, known as a hedge, Jennifer Boykin, president of Newport News Shipbuilding in Newport News, Virginia, told reporters on Tuesday at the Sea Air Space Exposition in National Harbor, Maryland.
Mulherin Receives the Nimitz Award
Matt Mulherin, former executive vice president of Huntington Ingalls Industries and president of Newport News Shipbuilding, was recognized by the United States Navy League today as a 2018 recipient of its annual Fleet Admiral Chester W. Nimitz Award. This award honors an industry leader who has demonstrated the leadership, statesmanship and dedication to the nation that were exhibited by the award’s namesake. Mulherin, who retired from the company in July 2017 after a distinguished 36-year career…
HII Reports Q1 Earnings Jump
Huntington Ingalls Industries (HII) reported first quarter 2014 revenues of $1.59 billion, up 2 percent compared to the same period last year. First quarter diluted earnings per share was $1.81, compared to diluted earnings per share of $0.87 in the same period of 2013. Adjusted diluted earnings per share for the quarter was $1.53, compared to $1.17 in the comparable period of 2013. Segment operating income for the first quarter was $137 million, compared to $120 million in the same period last year.
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.
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…
Expansion Planned for Newport News Industrial
Huntington Ingalls Industries (HII) announced that its Newport News Industrial subsidiary will undergo a 52,000-square-foot expansion at its headquarters facility in Newport News. The facility, located at 182 Enterprise Drive, will be expanded to house production areas, heavy cranes and plate-forming equipment. The expansion will support the company’s heavy steel fabrication in the commercial nuclear power industry and will create at least 120 new skilled trades jobs. Additional parking will also be added to support the larger workforce. “We at Newport News Industrial are excited to see this expansion come to life because it will support our work in the nuclear power industry and support our community through job creation…
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…
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.
Boykin Tapped as Next Newport News President
Huntington Ingalls Industries’ (HII) Board of Directors has elected Jennifer R. Boykin to serve as executive vice president of HII and president of HII’s Newport News Shipbuilding division, effective July 1. She will succeed Matt Mulherin, who announced that he will retire on August 1 after a 36-year career at Newport News Shipbuilding. Boykin, who will report to HII President and CEO Mike Petters effective July 1, currently serves as vice president, engineering and design for Newport News Shipbuilding.
NNS Squabble Seen Settled In Washington
With General Dynamics Corp. and Northrop Grumman Corp. battling for Newport News Shipbuilding Inc. both the Pentagon and Virginia's powerful delegation in Congress are ready to step into the fray over who buys the nuclear-capable contractor. Defense Department officials are likely to weigh the cost benefits of each deal, questioning which combination would lower the price of nuclear-powered vessels for the U.S. Navy. Virginia's elected representatives will eye the acquisition's effect on jobs, and the warfare technology research funds that the shipbuilder, based in Newport News, Virginia, draws into the state. "This thing has become a political game now," said a veteran defense industry antitrust lawyer, who asked not to be named.
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.
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 Backs $2.1 Billion Takeover From General Dynamics
Newport News Shipbuilding Inc. said Wednesday its board voted to back the $2.1 billion takeover offer from defense contractor General Dynamics Corp. over a rival bid from Northrop Grumman Corp. Newport News, maker of nuclear-powered warships, said its board voted unanimously to recommend General Dynamics' all-cash offer of $67.50 per share after determining it did not have enough information on the views of federal regulators and defense officials to take a position on the Northrop bid. Newport, based in Newport News, Va., also noted its board believes the General Dynamics' deal gives stockholders the opportunity to receive better and more certain value than they would receive under Northrop's cash and stock offer. "We will seek to determine the position of the U.S.
Opening of Newport News Plant Delayed
According to an August 19 report from www.dailypress.com, AREVA Newport News has delayed the start of manufacturing operations by at least a year due to a slower-than-expected process of federal government approval of new nuclear power plants. The yet-to-be-built facility in the north end of Northrop Grumman Corp.'s Newport News shipyard will not begin manufacturing components for nuclear power plants until at least 2013. The French nuclear company, in a partnership with Northrop Grumman Shipbuilding, had planned to begin manufacturing in the planned 330,000-square-foot building in January 2012, a project that officials said would create 540 jobs. (Source: www.dailypress.com)
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.
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…
NNS Gets $6 Million
Newport News Shipbuilding, Newport News, Va., is being awarded a $5,995,352 cost-plus-fixed-fee modification to previously awarded contract (N00024-02-C-2106) for an additional year of standard Navy valve yard services. Work will be performed in Newport News, Va. Contract funds in the amount of $5,564,456, will expire at the end of the current fiscal year. Work completion date or any additional information is provided on Naval nuclear propulsion program contracts. The Naval Sea Systems Command, Washington, D.C., is the Contracting Activity.
Northrop Grumman Moves Ahead With Hostile Takeover
Northrop Grumman Corp. started its exchange offer for shares of Newport News Shipbuilding Inc., moving forward with its hostile bid despite Newport's planned merger with rival General Dynamics Corp. Northrop said it would immediately enter negotiations with Newport News if the maker of nuclear-powered aircraft carriers and submarines allowed Northrop to conduct a due diligence review. A spokeswoman for Newport News said the board would review the offer and make its recommendation. A General Dynamics spokeswoman said the company had not yet reviewed Northrop's bid. Northrop's offer gives Newport shareholders the option to receive $67.50 per share in cash or shares of Northrop common stock.
Dugan Elected Chair of ASA
The American Shipbuilding Association (ASA) announced that Mr. John F. “Dugan” Shipway, President of Bath Iron Works, Bath, ME, has been elected Chairman of the Board of ASA for calendar years 2009 and 2010. Mr. Matthew J. Mulherin, Sector Vice President and General Manager of Newport News Shipbuilding, Newport News, VA, has been elected as the Association’s Vice Chairman. Dugan Shipway joined Electric Boat in July of 2000 as a Special Assistant to the President and was appointed President of Bath Iron Works on April 28, 2003. Prior to joining Electric Boat, he was a career Navy officer, retiring as a Rear Admiral after 35 years of service. He commanded a nuclear attack submarine for more than four years after previously serving on various other submarine platforms.