Ingalls Shipbuilding Awarded $23.5 Million LHA 8 Affordability Contract

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| Source: Huntington Ingalls Industries, Inc.

PASCAGOULA, Miss., July 17, 2014 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries' (NYSE:HII) Ingalls Shipbuilding division has been awarded an affordability design contract for $23.5 million for early industry involvement to reduce the construction and life-cycle cost for the amphibious assault ship LHA 8.

"Ingalls Shipbuilding has been constructing large-deck amphibious ships for nearly 50 years, and this contract will build on our company's knowledge and experience to implement cost-saving measures to help the Navy reach their affordability goals," said Ingalls Shipbuilding President Brian Cuccias. "We are committed to building affordable ships, and this contract begins industry involvement in a meaningful way to implement improved cost in amphibious shipbuilding, specifically LHA 8."

The early industry involvement contracts were awarded to U.S. shipyards that have the facilities and resources to build a large-deck amphibious assault ship without major recapitalization. The affordability design phase allows shipbuilders an opportunity to refine contract design requirements for a more affordable ship. The shipbuilders will address the cost-driving requirements within the design trade space that offer the greatest potential for acquisition, production and overall costs.

The contract will employ Ingalls design and production engineers, planners, and a variety of operations experts to participate in the preliminary design of the ship and bring their ideas and knowledge of constructing amphibious warships to the table to help the Navy achieve their affordability goals.

Ingalls is currently the sole builder of amphibious ships for the Navy. The shipyard delivered its first amphibious assault ship, the Iwo Jima-class USS Tripoli (LPH 10), in 1966. Ingalls has since built five Tarawa-class (LHA 1) ships and eight Wasp-class (LHD 1) ships and recently delivered the first in a new class of amphibious assault ships, America (LHA 6).

Huntington Ingalls Industries designs, builds and manages the life-cycle of the most complex nuclear and conventionally powered ships for the U.S. Navy and Coast Guard. 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 also provides engineering and project management services expertise to the commercial energy industry, the Department of Energy and other government customers. Headquartered in Newport News, Va., HII employs more than 39,000 people operating both domestically and internationally. For more information, visit:

CONTACT: Bill Glenn
         william.glenn@hii-co.com
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