HII Awarded $1.3 Billion Contract for the Detail Design & Construction of LPD 32

Rhea-AI Summary

HII (NYSE: HII) announced a $1.3 billion modification to a U.S. Navy contract for the construction of amphibious transport dock LPD 32. This brings the total contract value to $1.54 billion. The ship will be the 16th in the San Antonio class. Ingalls Shipbuilding received a $240 million advance procurement contract in June 2022, facilitating early construction activities. HII's Ingalls Shipbuilding is the sole builder of the San Antonio class, with three LPDs under construction, enhancing the Navy’s amphibious capabilities for crisis responses and humanitarian assistance. HII continues to be a leader in military shipbuilding.

Positive

• Received a $1.3 billion contract modification, increasing total contract value to $1.54 billion.
• Ingalls Shipbuilding is the sole builder of the San Antonio class of ships.
• Three LPDs currently under construction, enhancing military capabilities.

Negative

• None.

PASCAGOULA, Miss., March 31, 2023 (GLOBE NEWSWIRE) -- HII (NYSE: HII) announced today that its Ingalls Shipbuilding division has received a $1.3 billion modification to a previously awarded contract from the U.S. Navy for the procurement of the detail design and construction of amphibious transport dock LPD 32. The resulting fixed-price-incentive contract totals $1.54 billion. The ship will be the 16^th in the San Antonio class and the third Flight II LPD.

“Our shipbuilders are dedicated to delivering these ships to our Navy and Marine Corps partners, having done so for over two decades,” Ingalls Shipbuilding President Kari Wilkinson said. “This program is strong and has enabled the Department of Navy and Ingalls to establish a formidable capability based on a mature design, an ever-increasingly efficient production line, and a team of shipbuilders that keep the Navy’s critical industrial base network across the country strong.”

In June 2022, Ingalls Shipbuilding was awarded a $240 million advance procurement contract for LPD 32 from the Navy to provide long-lead-time material and advance construction activities. The funds from this contract allowed Ingalls to begin purchasing long-lead time material and major equipment across a supplier network of nearly 400 companies in 30 states.

A photo accompanying this release is available at: https://hii.com/news/hii-awarded-contract-for-detail-design-construction-lpd-32/.

Ingalls Shipbuilding is the sole builder of the entire San Antonio class of ships and currently has three LPDs under construction, including Richard M. McCool (LPD 29); Harrisburg (LPD 30), the first Flight II LPD; and Pittsburgh (LPD 31), which began fabrication in September 2022. LPD Flight II is the next generation amphibious ship to replace Whidbey Island (LSD 41) and Harpers Ferry (LSD 49) classes of dock landing ships.

Amphibious transport docks are a major part of the Navy’s 21^st century expeditionary force, deployed with a U.S. Marine Corps Air-Ground Task Force for amphibious and expeditionary crisis response operations that range from deterrence and joint-force enablement to humanitarian assistance and disaster relief.

About HII

HII is a global, all-domain defense provider. HII’s mission is to deliver the world’s most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.

As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII’s workforce is 43,000 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:
Kimberly Aguillard
Kimberly.K.Aguillard@hii-co.com
(228) 935-6821

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ba65910-a491-4eb8-9fa4-9947f1fac884

FAQ

What is the latest contract modification announced by HII in March 2023 for?

HII announced a $1.3 billion modification for the detailed design and construction of LPD 32.

How much is the total value of the LPD 32 contract?

The total contract value for LPD 32 is $1.54 billion.

What class of ship does LPD 32 belong to?

LPD 32 is the 16th ship in the San Antonio class.

How many LPDs are currently under construction by HII?

HII currently has three LPDs under construction.

What was the advance procurement contract amount awarded to HII in June 2022 for LPD 32?

HII was awarded a $240 million advance procurement contract for LPD 32.