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Mike Petters on HII's Contracts, Navy's Shipbuilding Plan

Mike Petters on HII's Contracts, Navy's Shipbuilding Plan - top government contractors - best government contracting event

Mike Petters on HII's Contracts, Navy's Shipbuilding Plan - top government contractors - best government contracting event

Mike Petters, president and CEO of Huntington Ingalls Industries, told analysts Thursday that this a “very exciting time in shipbuilding“ amid HII's recent contract wins, USNI News reported Thursday.

“Orders are in the book and the team can get cut loose to execute those orders,“ he told analysts during the company's earnings call.

In late January, HII's Newport News Shipbuilding division received a $15.2B contract modification from the U.S. Navy to design and build two Gerald R. Ford-class aircraft carriers. A month prior to that, Ingalls Shipbuilding secured two contracts worth $930.9M combined to construct the 10th and 11th National Security Cutters for the U.S. Coast Guard.

The Navy also tapped HII in September for a potential $5.25B contract to build new Arleigh Burke-class guided missile destroyer ships.

Petters also discussed the Navy's shipbuilding program in the next three decades, including the contract for LHA-9 and LHA-10 amphibious assault ships and the challenge the service faces when it comes to building up the readiness of its submarine fleet, according to the report. 
 

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