April 20, 2015
HUNTINGTON INGALLS INDUSTRIES AND KINDER MORGAN INC. DECIDE NOT TO PURSUE JOINT VENTURE ON AVONDALE REDEVELOPMENT
NEWPORT NEWS, Va., April 20, 2015 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today it has completed discussions with Kinder Morgan Inc. (NYSE:KMI) to explore the redevelopment of HII's Avondale shipyard in Louisiana. Since April 2014, HII and Kinder Morgan have evaluated best-use opportunities for the facility, and have mutually decided not to move forward with a joint venture.
HII will continue to assess all alternatives for future use of the facility, to include selling the property, and will continue to work closely with the State of Louisiana and Louisiana Economic Development.
About HII
HII is America's Seapower Company. The nation’s largest shipbuilder, HII builds the manned and unmanned maritime systems and all-domain mission technologies that project U.S. and allied power around the world. With a more than 140-year history of advancing U.S. national security, HII is headquartered in Virginia and employs 45,000 people across three divisions.
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