Ingalls Shipbuilding Awarded U.S. Navy Construction Contract for DDG 113 Guided Missile Destroyer
PASCAGOULA, Miss., June 15, 2011 (GLOBE NEWSWIRE) -- Ingalls Shipbuilding, a division of Huntington Ingalls Industries, Inc. (NYSE:HII), was awarded a construction contract for the Arleigh Burke-class (DDG 51) destroyer DDG 113. As this award represents Phase I of a competitive two-phased acquisition approach to procure FY11/FY12 DDG 51s, with Phase II including the potential award of up to three additional ships, the award amount is considered source selection-sensitive information. DDG 113 will be the 29th Arleigh Burke-class destroyer built by Ingalls.
"The opportunity to build DDG 113 and the Navy's plan to restart the DDG 51 class production line aligns with our business strategy of building classes of ships in serial production," said Bob Merchent, vice president, surface combatants and U.S. Coast Guard programs, Ingalls Shipbuilding. "We've built a strong DDG team, and we're focused on building these ships more efficiently. Focusing on better processes and improved performance ensures our future and gets the Navy more ships."
Ingalls Shipbuilding has delivered 28 Arleigh Burke-class ships to the U.S. Navy. The company's 28th ship, William P. Lawrence (DDG 110), was commissioned in Mobile, Ala., on June 4.
This highly capable, multi-mission ship can conduct a variety of operations, from peacetime presence and crisis management to sea control and power projection, all in support of the United States' military strategy. DDG 113 will be capable of simultaneously fighting air, surface and subsurface battles. The ship contains myriad offensive and defensive weapons designed to support maritime defense needs well into the 21st century.
Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder. Employing nearly 38,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding. 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 obtain new contracts, estimate our costs and perform effectively; risks related to our spin-off from Northrop Grumman (including our increased costs and leverage); our ability to realize the expected benefits from consolidation of our Gulf Coast facilities; natural disasters; adverse economic conditions in the United States and globally; 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.
CONTACT: Jerri Fuller Dickseski Jerri.Dickseski@hii-co.com 757-380-2341