Huntington Ingalls Industries, Inc.’s HII subsidiary, Newport News Industrial (“NNI”) will continue its partnership with Westinghouse Electric Company for the construction of a domestic nuclear power plant. The company will also act as a supply partner for Westinghouse in support of international opportunities.
The companies have completed discussions related to NNI’s contract to manufacture structural modules for shield buildings that enclose the containment vessel for domestic AP1000 power plants under construction.
The manufacturing process will take place in NNI’s Newport News facility. The facility will be extended by 52,000 square feet to support domestic and international orders now and later. This is expected to create at least 120 new skilled trade jobs.
Pete Diakun, Newport News’ vice president of energy programs, said, “NNI has been actively engaged in completing the shield building wall modules at AP1000 construction sites in Georgia and South Carolina.”
Notably, NNI offers fabrication, construction, equipment repair, technical services and innovative products to the energy and petrochemical industries, as well as government customers.
Huntington Ingalls is the prime industrial employer in Virginia. It is the sole designer and manufacturer of nuclear-powered aircraft carriers in the U.S. Over 70% of the active U.S. Navy fleet consists of Huntington Ingalls ships. The company has developed an exclusive ability in all aspects of aircraft carrier designing, production, innovation, repair, and technical and engineering support.
Huntington Ingalls currently has a Zacks Rank #2 (Buy).
Other Stocks to Consider
Some other favorably placed stocks in the aerospace and defense space include Engility Holdings, Inc. EGL, Leidos Holdings, Inc. LDOS and CAE Inc. CAE, each carrying the same rank as Huntington Ingalls.
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