Shipbuilder HII to acquire facilities from South Carolina company for sub construction
The acquisition comes amid a flurry of activities by the Navy and industry to bolster the submarine industrial base.
The acquisition comes amid a flurry of activities by the Navy and industry to bolster the submarine industrial base.
The leadership changes come following HII's bleak report to Wall Street, but a company spokesman said the timing "aligns with Jennifer [Boykin's] retirement plans."
In a note to investors, J.P. Morgan analyst Seth Seifman said the company's third quarter results and withdrawal of its cash flow guidance was "a worse outcome than we expected."
"The safety of our sailors is our top concern, and we must immediately understand any risks associated with the faulty work,” said four top leaders of the House Armed Services Committee.
The mid-life overhauls usually take a carrier out of operations for roughly four years.
“When we deviate from that schedule that’s been previously identified, that is where the 'going cold' starts to come into play,” said Lisa Papini, chairwoman of ACIBC. “And that’s where the concern is on that schedule.”
A Newport News Shipbuilding executive said “nearly half” of the companies in the supply chain that provide long-lead time materials for aircraft carriers are at risk of "going cold.”
The head of a shipbuilding trade association says future delays could provoke layoffs in the industrial base.
Navy Secretary Carlos Del Toro recently said the service is slightly behind its "accelerated" schedule goals for the shipbuilding program.
An HII executive told Breaking Defense the NAVSEA certification will open the door for other alloys to be approved for use.
LPD-32 was at the center of an unusual public dispute between two service chiefs during a Washington, DC event in March.
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The Olympic athletes Simon Biles and Katie Ledecky are sponsoring the Enterprise (CVN-80).
The service's aircraft carrier boss says the COVID economic slowdown hasn't effected building new carriers -- yet.