Huntington Ingalls Industries looking at redeveloping Avondale shipyard

14 April 2014

Huntington Ingalls Industries (NYSE: HII) said it will conduct a study with Kinder Morgan Energy Partners, L.P. to explore redeveloping Huntington Ingalls Industries´ Avondale shipyard in Louisiana.

Since the July 2010 announcement to close Avondale, HII has aggressively sought a strategic solution to redevelop the facility. The study will explore and evaluate best-use opportunities for the facility. Once the study is completed and a determination has been made for an economically viable, best use of the facility, HII and Kinder Morgan Energy Partners may pursue the formation of a joint venture to re-purpose the Avondale site.

Avondale´s location on the Mississippi River offers unparalleled access to major markets by truck, rail and sea, making it attractive for many uses.

Huntington Ingalls Industries designs, builds and maintains nuclear and non-nuclear ships for the US Navy and Coast Guard and provides after-market services for military ships around the globe. Its website is at www.huntingtoningalls.com.

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