April 11, 2014
HUNTINGTON INGALLS INDUSTRIES TO EXPLORE OPPORTUNITIES FOR AVONDALE REDEVELOPMENT WITH KINDER MORGAN ENERGY PARTNERS
NEWPORT NEWS, Va., April 11, 2014 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today it will conduct a study with Kinder Morgan Energy Partners, L.P. (NYSE:KMP) to explore redeveloping Huntington Ingalls Industries' Avondale shipyard in Louisiana.
Since the July 2010 announcement to close Avondale, HII has aggressively sought a strategic solution to redevelop the facility. The study will explore and evaluate best-use opportunities for the facility. Once the study is completed and a determination has been made for an economically viable, best use of the facility, HII and Kinder Morgan Energy Partners may pursue the formation of a joint venture to re-purpose the Avondale site.
Avondale's location on the Mississippi River offers unparalleled access to major markets by truck, rail and sea, making it attractive for many uses.
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 45,000 strong.
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.