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Friday, July 16, 2010

Northrop Grumman's move won't alter Navy's course

Northrop GrummanThe Navy has shrugged off Northrop Grumman Corp.'s decision to sell or spin off its shipbuilding business, including the Newport News shipyard that builds aircraft carriers and submarines.

"The announcement is a business decision, but we will stay engaged and will continue to evaluate how things progress, with the goal of being able to effectively execute the shipbuilding plan," Cmdr. Victor Chen, a Navy spokesman at the Pentagon, said Wednesday.

The Navy said it is committed to following the long-range shipbuilding plan presented to Congress earlier this year, which calls for an average of about $16 billion a year in ship construction to maintain a roughly 300 vessel fleet.

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