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Huntington Ingalls Industries Joint Venture Awarded Position on U.S. Department of Energy Contract

Huntington Ingalls Industries, Inc.

NEWPORT NEWS, Va., July 27, 2020 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries’ (NYSE:HII) Technical Solutions division announced today that the U.S. Department of Energy (DOE) Office of Environmental Management has awarded a contract to Nationwide Remediation Partners, a joint venture led by HII Nuclear, to provide nationwide deactivation, decommissioning and removal services at excess DOE facilities. The multiple award indefinite delivery/indefinite quantity contract has a 10-year ordering period, with a maximum ordering ceiling of $3 billion.

Nationwide Remediation Partners is joined by EnergySolutions Federal Support, LLC and Navarro Research and Engineering, Inc., a woman-owned small business. American Demolition and Nuclear Decommissioning, a service-disabled, veteran-owned small business, is a named subcontractor.

“This contract award further strengthens our deep and long-standing relationship with the Department of Energy. We take pride in safely and efficiently supporting DOE in achieving our nation’s most complex environmental management missions,” said Michael Lempke, president of Technical Solutions’ Nuclear and Environmental Services. “HII’s approach in crafting the team reaffirms our commitment to small businesses, and the strategic partnerships formed through this joint venture will enhance our collective competitiveness in the growing government and commercial nuclear decommissioning markets.”

The work will primarily be conducted at excess DOE facilities across the nation. Support through this contract vehicle will also be available to the National Nuclear Security Administration, Office of Naval Reactors, Office of Science and other DOE and federal agencies that may request environmental management assistance. 

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 supports national security missions around the globe with unmanned systems, defense and federal solutions, and nuclear and environmental services. Headquartered in Newport News, Virginia, HII employs more than 42,000 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 estimate our future contract costs and perform our contracts effectively; changes in procurement processes and government regulations and our ability to comply with such requirements; our ability to deliver our products and services at an affordable life cycle cost and compete within our markets; natural and environmental disasters and political instability; our ability to execute our strategic plan, including with respect to share repurchases, dividends, capital expenditures and strategic acquisitions; adverse economic conditions in the United States and globally; health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic; changes in key estimates and assumptions regarding our pension and retiree health care costs; security threats, including cyber security threats, and related disruptions; 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 obligation to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make. This release also contains non-GAAP financial measures and includes a GAAP reconciliation of these financial measures. Non-GAAP financial measures should not be construed as being more important than comparable GAAP measures.

Contact:

Beci Brenton
Beci.Brenton@hii-co.com
(202) 264-7143