Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.

Huntington-Ingalls Wins Another Coast Guard Contract

It's been barely a month since shipbuilder Huntington Ingalls Industries (NYSE: HII  ) landed its $487 million contract to build the sixth National Security Cutter (NSC), the Munro, for the U.S. Coast Guard -- and already it's time to start work on the seventh.

On Friday, the Ingalls Shipbuilding division announced that it has won a $76.8 million fixed-price contract from the Coast Guard to begin purchasing "long-lead materials" needed to build the Kimball NSC. Specific items on Ingalls' shopping list include steel, engines, generators, electrical switchboards, and major castings.

As Ingalls NSC program manager Jim French explained in a statement: "Advance procurement funding helps us procure equipment and materials at favorable prices from our suppliers, and it keeps their production line flowing as well."

So far, Huntington has delivered three NSCs to the Coast Guard, is about 40% through construction of a fourth, and 17% through a fifth. Construction of the sixth, the Munro, is slated to begin later this year.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2491344, ~/Articles/ArticleHandler.aspx, 5/27/2015 10:09:02 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...