June 2, 2014
NEWPORT NEWS, Va., June 2, 2014 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that it has acquired UniversalPegasus International Holdings (UPI), a leading provider of engineering and project management services to the domestic and international energy markets. The intent to acquire UPI was announced on May 16. The value of the transaction is not being disclosed.
UPI was a privately held company headquartered in Houston. It also performs work in Oklahoma, Illinois and Louisiana, as well as Canada, the United Kingdom, and Trinidad and Tobago.
UPI has provided a broad range of engineering and project management services to the energy industry for over 50 years. Whether onshore or offshore, from the wellhead to processing facilities to delivery points, UPI delivers the project management, engineering, design, survey, inspection and construction management personnel to move energy safely, reliably and efficiently to domestic and international marketplaces.
UPI will be a subsidiary of HII reporting to Chris Kastner, corporate vice president and general manager, corporate development.
HII is America’s largest shipbuilder, delivering the world’s most powerful ships and all-domain mission technologies, including unmanned systems, to U.S. and allied defense customers. HII is the largest producer of unmanned underwater vehicles for the U.S. Navy and the world.
With a more than 140-year history of advancing U.S. national security, HII builds and integrates defense capabilities extending from the core fleet to C6ISR, AI/ML, EW and synthetic training. Headquartered in Virginia, HII’s workforce is 44,000 strong.
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