PASCAGOULA, Miss., Feb. 26, 2021 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE: HII) announced today that its Ingalls Shipbuilding division has been awarded a cost-plus-fixed-fee contract for life-cycle engineering and support services on the U.S. Navy’s San Antonio (LPD 17) class of amphibious transport docks. This follow-on contract consists of a base contract valued at $36.9 million with a cumulative value of $213.9 million if all options are exercised.
“This contract enables Ingalls to continue providing LPD support and services that are critical to the sustainment of the Navy’s amphibious fleet,” Ingalls Shipbuilding President Brian Cuccias said. “Our talented workforce has the knowledge and experience required to perform this important work, and we are committed to ensuring these state-of-the-art warships serve our nation well into the future.”
Services provided in this contract include engineering change management; systems engineering and integration; supply chain management; training for new LPD 17-class shipboard systems; and the execution of industrial post-delivery availabilities.
“We appreciate the Navy’s continued investment in our experienced team and their reliance on the support we provide,” said David King, Ingalls’ LPD 17 life-cycle program manager. “This contract builds on our strong partnership with the Navy in the construction and post-delivery management of Navy ships. We look forward to supporting these ships as they evolve to meet the changing threat environment.”
San Antonio-class ships are 684 feet long and 105 feet wide and displace approximately 25,000 tons. Their principal mission is to deploy the combat and support elements of Marine expeditionary units and brigades. The ships can carry up to 800 troops and have the capability of transporting and debarking landing craft air cushion or conventional landing crafts, augmented by helicopters or vertical take-off and landing aircraft such as the MV-22. These ships will support amphibious assault, special operations or expeditionary warfare missions through the first half of the 21st century.
Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division supports national security missions around the globe with unmanned systems, defense and federal solutions, and nuclear and environmental services. Headquartered in Newport News, Virginia, HII employs more than 42,000 people operating both domestically and internationally. For more information, please visit www.huntingtoningalls.com.
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Statements in this release, other than statements of historical fact, 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: changes in government and customer priorities and requirements (including government budgetary constraints, shifts in defense spending, and changes in customer short-range and long-range plans); our ability to estimate our future contract costs and perform our contracts effectively; changes in procurement processes and government regulations and our ability to comply with such requirements; our ability to deliver our products and services at an affordable life cycle cost and compete within our markets; natural and environmental disasters and political instability; our ability to execute our strategic plan, including with respect to share repurchases, dividends, capital expenditures and strategic acquisitions; adverse economic conditions in the United States and globally; health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic; changes in key estimates and assumptions regarding our pension and retiree health care costs; security threats, including cyber security threats, and related disruptions; 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 obligation to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make. This release also contains non-GAAP financial measures and includes a GAAP reconciliation of these financial measures. Non-GAAP financial measures should not be construed as being more important than comparable GAAP measures.
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