NEWPORT NEWS, Va., July 1, 2015 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding division has received an indefinite-delivery-indefinite-quantity contract award to assist Puget Sound Naval Shipyard and Intermediate Maintenance Facility with maintenance work on the aircraft carriers USS Nimitz (CVN 68) and USS Carl Vinson (CVN 70). Puget Sound Naval Shipyard is the awarding agency.
The contract has a period of performance of two years and a maximum value of $75 million. The contract began today and includes providing qualified nuclear and nuclear-related trade labor, execution of discrete work packages and training through June 30, 2017. The work will be completed at Puget Sound Naval Shipyard in Bremerton, Washington, and at Naval Base Coronado in San Diego.
"We are delighted to support Puget Sound Naval Shipyard on the maintenance of USS Nimitz and USS Carl Vinson," said Chris Miner, Newport News Shipbuilding's vice president, in-service aircraft carrier programs. "We view this as a win-win opportunity that leverages the combined experience of both Newport News and Puget Sound Naval Shipyard shipbuilders in a collaborative effort to return these warships back to the Navy fleet in a timely, cost-effective manner."
Huntington Ingalls Industries is America's largest military shipbuilding company and a provider of engineering, manufacturing and management services to the nuclear energy, oil and gas markets. 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. Headquartered in Newport News, Virginia, HII employs approximately 38,000 people operating both domestically and internationally. For more information, visit:
- HII on the web: www.huntingtoningalls.com
- HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries
- HII on Twitter: twitter.com/hiindustries
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 obtain new contracts, estimate our future contract costs and perform our contracts effectively; changes in government regulations and procurement processes and our ability to comply with such requirements; our ability to realize the expected benefits from consolidation of our Ingalls facilities; natural disasters; adverse economic conditions in the United States and globally; risks related to our indebtedness and leverage; 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.