Continental Maritime awarded Navy contract

Huntington Ingalls Industries, Inc. (NYSE:HII) reported today that its Continental Maritime (CMSD) division in San Diego has won a  contract to provide pump and motor overhaul services aboard Navy ships within a 50-mile radius of San Diego. The firm-fixed-price, indefinite-delivery/indefinite-quantity, multiple-award contract, awarded with two other companies, has an estimated value of $120 million for all three prime contractors. The contract will have an ordering period of five years, and each order will be competed among the three awardees.

“It has been over 13 years since Continental Maritime was a prime contractor, and this award is important in that respect,” said Dan Flood, vice president and general manager, CMSD. “This award provides us opportunities moving forward that we did not have in the past. Additionally, this contract gives CMSD the opportunity to showcase our superior mechanical and electrical repair capabilities.”

Huntington Ingalls Industries, America’s largest military shipbuilder, was previously a business sector of Northrop Grumman Corp. until effectively separating on March 31 in a spinoff of the company to shareholders.

April 18, 2011