TYSONS CORNER, VA, February 18, 2020 — Titan Acquisition Holdings, the new company formed through a merger between MHI Holdings and Vigor Industrial, is acquiring Huntington Ingalls Industries' (NYSE: HII) shipyard in San Diego to expand vessel repair and sustainment services for the defense sector, GovCon Wire reported Thursday.
HII will become a minority stakeholder in Titan as part of the deal that both parties expect to close in the second quarter, the companies said Wednesday in a joint press release.
“We believe this transaction will enable us to leverage complementary capabilities, capacity and facilities to improve efficiencies and better serve the needs of our U.S. Navy customer,” said Andy Green, president of HII’s technical solutions segment and a 2020 Wash100 winner.
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