Huntington Ingalls Industries (HII)

Huntington Ingalls Industries, Inc. (NYSE:HII) has begun operating as a new, independent and publicly traded company as trading of its shares will commence this morning. Huntington Ingalls Industries, America's largest military shipbuilder, was previously a business sector of Northrop Grumman until effectively separating on March 31, 2011, in a spinoff.

"Our strategy," said Mike Petters, president and CEO of Huntington Ingalls Industries, "is to better align our business with the U.S. Navy's priorities and to continue improving our shipbuilding performance while meeting our customer commitments. Operating as an independent company will allow us greater focus and agility to accomplish these important objectives, which should create significant value for our shareholders."

The Huntington Ingalls Industries name reflects the long-standing legacies of the two shipbuilding business divisions of the new entity: Newport News Shipbuilding and Ingalls Shipbuilding. Collis P. Huntington founded Newport News Shipbuilding in 1886, and Ingalls Shipbuilding was established in 1938 by the Ingalls Iron Works of Birmingham, Ala., a company founded by the Ingalls family.

"Incorporating the names of our founding families and legacy companies into our new enterprise will build upon our 125-year tradition of demonstrated commitment to quality, customer focus and building the best military ships in the world," Petters said. "I am very excited about our future, about the strength and depth of our leadership team, and the skill and dedication of our shipbuilders."

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. Employing nearly 38,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding.

AMSEC is a subsidiary of Huntington Ingalls Industries. With approximately 2,000 employees in 28 locations nationwide and overseas, AMSEC LLC is a full service supplier to the U.S. Navy and commercial maritime industry, providing naval architecture and marine engineering, naval ship systems assessments, maintenance engineering, acquisition program development, shipyard industrial engineering, and complete logistics services from technical manual development to provisioning documents, to spare parts management and training.

Continental Maritime of San Diego (CMSD) is a subsidiary of Huntington Ingalls Industries and a certified Master Ship Repair Contractor for the U.S. Navy. Its skilled professionals have performed hundreds of ship repairs for the Navy and Military Sealift Command. CMSD does emergent repair on all types of major surface vessels including CVN, CV, CGN, CG, DDG, DD, and FFG, and all types of amphibious ships including LHD, LHA, LSD, LPD, LPH, and auxiliary ships. Its work also includes repairs and alterations to a wide range of Combatant Systems, Hull, Mechanical and Electrical, and Habitability ships.

Newport News Industrial Corporation (NNI), a subsidiary of Huntington Ingalls Industries, is an outgrowth of Newport News Shipbuilding's participation in the construction of Navy nuclear plant prototypes. NNI was incorporated in 1965 as the Nuclear Engineering and Construction Company. Its original mission was to support the design and construction of commercial nuclear power plants which expanded over time to include maintenance, repair and modification services. In 1973, the name was changed to Newport News Industrial Corporation to better reflect the company’s mission and its expansion into fossil power plants and other industrial facilities. Today, NNI provides a wide range of services and innovative products to the Energy and Petrochemical industries as well as government customers such as NASA, Department of Energy and Department of Defense.

Newport News Nuclear (NNN), Inc., a subsidiary of Huntington Ingalls Industries (HII), was formed to provide the Department of Energy with the excellence in nuclear operations and program management that HII’s Newport News Shipbuilding division has delivered to the U.S. Naval Nuclear Propulsion Program for more than 50 years. Established in 1886, Newport News Shipbuilding has served the nuclear industry since it began in the 1950s and has successfully performed more than 300 major nuclear projects, more than 90 of which have involved the safe handling of significant quantities of spent nuclear fuel. NNN provides elite management and technical services as well as program management tools and resources to assist government agencies and contractors conducting highly complex projects and operations that require rigorous conduct of operations to ensure safe completion.

Newport News Energy (NNE), a subsidiary of Huntington Ingalls Industries, was formed in 2008 to expand Newport News Shipbuilding’s role in the commercial nuclear and alternative energy markets. NNE provides various services which include: Design and Engineering, Facilities Engineering, Modularity and Optimization studies/reviews, Fabrication support services, Supply Chain Management and Plant Commissioning Support.