HII announces Labor Contract Agreement with United Steelworkers at Newport News Shipbuilding

Rhea-AI Summary

HII (NYSE:HII) announced that its Newport News Shipbuilding division has successfully negotiated a new labor contract with United Steelworkers, effective from March 7, 2022, until February 7, 2027. The agreement aims to provide competitive pay and benefits for union employees, ensuring the division remains competitive in the shipbuilding sector. Susan Jacobs, vice president of human resources, emphasized the importance of this agreement in continuing to meet the U.S. Navy's shipbuilding needs.

Positive

• New labor contract enhances pay and benefits for union employees.
• Agreement ensures competitiveness in the shipbuilding industry.
• Contract duration extends through February 2027, providing stability.

Negative

• None.

NEWPORT NEWS, Va., March 08, 2022 (GLOBE NEWSWIRE) -- Global engineering and defense technologies provider HII (NYSE:HII) was notified today that United Steelworker members at the company’s Newport News Shipbuilding division voted in favor of a new labor contract. The new contract took effect Monday and will run through Feb. 7, 2027.

“We worked diligently with our union partners to reach a fair agreement, and are pleased that the new contract continues to provide the pay and benefits that our union employees expect,” said Susan Jacobs Newport News’ vice president of human resources and administration. “This offer maintains our competitiveness in the shipbuilding industry and our flexibility to respond to our Navy customer’s needs. I applaud the efforts of all those involved in reaching this agreement and am pleased we continued our Navy shipbuilding requirements throughout the process.”

Details of the contract are available at: https://nns.huntingtoningalls.com/laborupdates.

HII is a global engineering and defense technologies provider. With a 135-year history of trusted partnerships in advancing U.S. national security, HII delivers critical capabilities ranging from the most powerful and survivable naval ships ever built, to unmanned systems, ISR and AI/ML analytics. HII leads the industry in mission-driven solutions that support and enable a networked, all-domain force. Headquartered in Virginia, HII’s skilled workforce is 44,000 strong. For more information, visit:

• HII on the web: https://www.hii.com/
• HII on Facebook: https://www.facebook.com/TeamHII
• HII on Twitter: https://www.twitter.com/wearehii
• HII on Instagram: https://www.instagram.com/wearehii

Contact:

Danny Hernandez
Danny.J.Hernandez@hii-co.com
(202) 580-9086

FAQ

What is the duration of the new labor contract for HII?

The new labor contract for HII is effective from March 7, 2022, until February 7, 2027.

Who negotiated the new labor contract for HII?

The new labor contract for HII was negotiated between the company and United Steelworkers.

What benefits does the new contract provide to HII employees?

The new contract provides competitive pay and benefits for union employees at HII's Newport News Shipbuilding division.

How does the new labor contract affect HII's competitiveness?

The new labor contract is designed to maintain HII's competitiveness in the shipbuilding industry.