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 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.
Related News
Sign Up for Updates
Enter your email to receive news updates and insights.
By subscribing you agree to our Privacy Policy and provide consent to receive updates from HII.