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Featured Company News - Huntington Ingalls Industries Awarded Refueling and Complex Overhaul Contract for Aircraft Carrier USS George Washington

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LONDON, UK / ACCESSWIRE / September 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Huntington Ingalls Industries, Inc. (NYSE: HII) ("Huntington Ingalls"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=HII. The Company announced on September 01, 2017, that its Newport News Shipbuilding division has received a $2.8 billion cost-plus-incentive fee contract for completing the refueling and complex overhaul (RCOH) of the nuclear-powered aircraft carrier USS George Washington (CVN 73). For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Newport News Shipbuilding Well Prepared for the Overhaul

Chris Miner, Newport News' Vice President, in-service aircraft carrier programs expressed his pleasure on receiving the contract. He mentioned that Newport News Shipbuilding division has been planning as well as preparing for this availability for as long as three years. For the project, the Company intends to leverage the lessons learnt from the USS Abraham Lincoln RCOH. Newport News redelivered the nuclear-powered aircraft carrier USS Abraham Lincoln (CVN 72) on May 12, 2017, following RCOH and successful sea trials.

The Company plans to implement digital tools to enhance efficiency, and work in coordination with Navy partners, suppliers, as well as various contractors to recapitalize the ship. So that it can be provided back to the Navy in the best condition, for another 25 years of service.

Overhaul Work Needed for Aircraft Carrier USS George Washington

  • The RCOH denotes around 35% of the overall maintenance and modernization in an aircraft carrier's 50-year service life.
  • For the USS George Washington, the RCOH would comprise the refueling of the ship's reactors, elaborate modernization work to more than 2,300 compartments, 600 tanks, and hundreds of systems.
  • Apart from that, it would include major updates to flight deck, catapults, combat systems, and the island.

Overhaul Timeline

  • The aircraft carrier USS George Washington arrived at Newport News Shipping Division on August 04, 2017 under a planning contract.
  • The overhaul work is expected to begin immediately and then continue up till August 2021.
  • USS George Washington is the sixth Nimitz-class carrier to undertake such a major life-cycle milestone. Over 4,000 employees would carry out the execution.
  • Once the refueling and overhaul are completed, the USS George Washington would become one of the most modern and technologically advanced Nimitz-class aircraft carriers in the fleet. And thus continue to be a crucial part of the nation's defense.

Gerald R. Ford (CVN 78) Delivered to the US Navy in end of May

Newport News Shipbuilding division provided the first-of-class aircraft carrier Gerald R. Ford (CVN 78) to the US Navy on May 31, 2017. The aircraft carrier had successfully completed acceptance trials on May 26, 2017. CVN 78 is the classic product of years of construction, planning and design. It is the effort of over 5,000 shipbuilders in Newport News and thousands of suppliers across the United States. The first-of-class ship is expected to serve the nation for the next 50 years. It will provide the Navy and sailors the most technologically advanced platform to carry out their missions.

About Huntington Ingalls Industries, Inc.

Huntington Ingalls is America's largest military shipbuilding Company. It provides professional services to partners in the government and the industry. The Company's Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships than any other US naval shipbuilder for over a century.

The Company has its headquarters in Newport News, Virginia and employs approximately 37,000 people operating both domestically and internationally.

Last Close Stock Review

Huntington Ingalls Industries' share price finished yesterday's trading session at $213.34, slightly sliding 0.79%. A total volume of 381.33 thousand shares have exchanged hands, which was higher than the 3-month average volume of 303.37 thousand shares. The Company's stock price rallied 12.98% in the past three months, and 27.97% in the previous twelve months. Additionally, the stock surged 15.83% since the start of the year. Shares of the Company have a PE ratio of 17.39 and have a dividend yield of 1.12%. The stock currently has a market cap of $9.53 billion.

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SOURCE: Pro-Trader Daily