Huntington Ingalls Gets $149M Navy Funds for Additional CVN 80 Carrier Material Procurement

A Huntington Ingalls Industries (NYSE: HII) subsidiary has received a potential $148.7 million contract modification from the U.S. Navy to obtain additional long-lead time materials needed for the construction of USS Enterprise nuclear-powered aircraft carrier.

The Defense Department said Tuesday the Naval Sea Systems Command obligated the full amount of the modification from the service branch’s fiscal 2017 shipbuilding and conversion funds at the time of award.

HII’s Newport News Shipbuilding business will perform contract work at a facility in Virginia through January 2024.

The company will research, design, develop and engineer the CVN 80 carrier under a potential $152 million contract the Navy awarded in May 2016.

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