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Northrop Grumman Approves Spin-off; CEO Wes Bush Comments

Wes Bush

Northrop Grumman’s (NYSE: NOC) board of directors has approved the spin-off of its wholly-owned subsidiary, Huntington Ingalls Industries, to Northrop Grumman stockholders.

According to the firm, the move is subject to final SEC clearance.

“We have determined that a spin-off of our shipbuilding business will best serve our shareholders, customers and employees. The separation will enable HII and Northrop Grumman to focus more intently on their respective customers, ” CEO Wes Bush said.

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