Huntington Ingalls Industries' Continental Maritime Division Awarded U.S. Navy Overhaul Contract

Huntington Ingalls Industries, Inc. (NYSE:HII) announced today a U.S. Navy contract to its Continental Maritime (CMSD) division to provide pump and motor overhaul services aboard Navy ships within a 50-mile radius of San Diego. The firm-fixed-price, indefinite-delivery/indefinite-quantity, multiple-award contract, awarded with two other companies, has an estimated value of $120 million for all three prime contractors. The contract will have an ordering period of five years, and each order will be competed among the three awardees.

"It has been over 13 years since Continental Maritime was a prime contractor, and this award is important in that respect," said Dan Flood, vice president and general manager, CMSD. "This award provides us opportunities moving forward that we did not have in the past. Additionally, this contract gives CMSD the opportunity to showcase our superior mechanical and electrical repair capabilities."

Huntington Ingalls Industries, America's largest military shipbuilder, was previously a business sector of Northrop Grumman Corp. until effectively separating on March 31 in a spinoff of the company to shareholders.

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. For more information, please visit www.huntingtoningalls.com.