Avondale's future won't include Kinder Morgan JV

APRIL 21, 2015 — One faint glimmer of hope for the Avondale shipyard has now sputtered out. Huntington Ingalls Industries (NYSE:HII) says it has completed discussions with Kinder Morgan Inc. (NYSE:KMI) to explore the redevelopment of HII's Avondale shipyard in Louisiana.

Since April 2014,(see earlier story) HII and Kinder Morgan have evaluated best-use opportunities for the facility, and have mutually decided not to move forward with a joint venture.

HII says it will continue to assess all alternatives for future use of the facility, to include selling the property, and will continue to work closely with the State of Louisiana and Louisiana Economic Development.

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