NEWPORT NEWS, Va., Oct. 04, 2018 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (HII) announced today the closing of the sale of HII’s Avondale facility to Avondale Marine, a joint venture between T. Parker Host and Hilco Redevelopment Partners.

The Avondale facility, part of HII’s Ingalls Shipbuilding division, ceased its Navy shipbuilding operations in December 2014. Avondale’s UNO Maritime Center of Excellence has remained open and continues to do engineering and design work in support of Ingalls’ shipbuilding programs.

“We are very proud of our legacy at Avondale and the many contributions that generations of its shipbuilders made to our national security,” said Ingalls Shipbuilding President Brian Cuccias. “Ingalls will continue to maintain a presence in Louisiana, not only at the UNO Center, but also through the many Louisiana residents who commute to Pascagoula each day to help us build the ships we produce for our nation’s defense. We are pleased that Avondale Marine plans to put the facility back into commerce and look forward to its success.”

T. Parker Host is one of the nation’s largest terminal operators and a leader in the maritime industry, specializing in agency, terminal operations and marine assets. In business for over 90 years, the company has developed a strong reputation in the maritime community for its expertise, transparency and high standards of service.

“For generations, Avondale Shipyards has been a source of pride for the community that generated jobs and economic development,” said Adam Anderson, president and CEO of T.P. Host and principal of Avondale Marine. “Our team will unleash its potential by transforming the shipyard into a global logistics hub for intermodal commerce. As we usher in a new era for this facility, we will benefit from the strength and skill of the workforce in Jefferson Parish and Louisiana. We are grateful for the steadfast support and leadership of the governor, parish president and council, as well as our partners in this project, including the Port of New Orleans, Public Belt, JEDCO, GNO, Inc., Business Council and Chamber of Commerce.”

Hilco Redevelopment Partners, a real estate firm based in Chicago, remediates and redevelops large-scale industrial facilities across North America, such as Tradepoint Atlantic and the Avondale Shipyard.

“We’re thrilled to leverage our extensive experience in redeveloping and transforming facilities that are at the end of their current useful life into modern productive businesses for the future,” said Roberto Perez, CEO of Hilco Redevelopment Partners. “We look forward to supporting our managing partners at T. Parker Host in the Avondale Marine project as we build this important logistics hub in New Orleans.”

In the coming months, Avondale Marine will begin its planning process for the approximately 254-acre site in partnership with stakeholders.

About Huntington Ingalls Industries

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Integrated Missions Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs more than 40,000 people operating both domestically and internationally. For more information, visit:

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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 Huntington Ingalls Industries

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of manufacturing, engineering and management services to the commercial and non-commercial energy, oil and gas markets. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. Headquartered in Newport News, Virginia, HII employs approximately 38,000 people operating both domestically and internationally. For more information, visit:

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 future contract costs and perform our contracts effectively; changes in government regulations and procurement processes and our ability to comply with such requirements; our ability to realize the expected benefits from consolidation of our Ingalls facilities; natural disasters; adverse economic conditions in the United States and globally; risks related to our indebtedness and leverage; 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. You should not place undue reliance on any forward-looking statements that we may make.

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.

Statements in this release regarding our plans and expectations 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 future developments that could impact our decisions regarding Avondale 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. You should not place undue reliance on any forward-looking statements that we may make.

About Huntington Ingalls Industries

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 at its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Employing more than 38,000 in Virginia, Mississippi, Louisiana and California, HII also provides a wide variety of products and services to the commercial energy industry and other government customers, including the Department of Energy. For more information, visit:

NEWPORT NEWS, Va., Feb. 5, 2013 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that it is opening an office in Houston, Texas, for business development efforts to pursue opportunities in the energy infrastructure market for its Avondale subsidiary.

“We have a great workforce at Avondale with unique engineering and manufacturing capabilities that have been demonstrated for many decades,” said Mike Petters, HII’s president and chief executive officer. “Additionally, these skilled men and women are located in the heart of a region where there is more manufacturing demand than the current suppliers can meet, particularly in the energy markets. Coupling this talent with our world-class facilities leads us to believe we have everything in place at Avondale to excel in this market.”

Chris Kastner, HII’s corporate vice president and general manager, corporate development, who is leading this effort for Avondale, added, “We are in active discussions with respected companies in the oil and gas infrastructure market. We’ve satisfied ourselves that the engineering and construction elements of these projects are very comparable to shipbuilding, and we are working very hard, both internally and with prospective customers, evaluating and competing for new opportunities. These upcoming large projects should be made in America by American craftsmen and craftswomen.”

Avondale will transition into this market by building upon the shipyard’s 30-plus years of modular engineering and construction expertise and nearly 75 years of experience in heavy manufacturing. Located on the Mississippi River near New Orleans, the 268-acre facility has the potential to employ up to 10,000 highly skilled craft men and women.

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. HII also provides a wide variety of products and services to the commercial energy industry and other government customers, including the Department of Energy. Employing about 37,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding. For more information about Avondale, visit: http://www.hii-avondale.com.

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.

About Huntington Ingalls Industries

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 at its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Employing about 37,000 in Virginia, Mississippi, Louisiana and California, HII also provides a wide variety of products and services to the commercial energy industry and other government customers. For more information, visit:

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