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Friday, November 07, 2014

Huntington Ingalls CEO ‘Concerned’ Over Delays in U.S. Navy Carrier Contracts

USS John F. Kennedy (CVN 79)Mike Petters — chief executive officer of Huntington Ingalls Industries (HII) — said delays in U.S. Navy contracts for the refueling and complex overhaul (RCOH) of USS George Washington (CVN-73) and construction contracts for the second Gerald Ford carrier John F. Kennedy (CVN-79) are causing the shipbuilder concern, during a Thursday call with investors.

Two-thirds of HII’s Newport News Shipbuilding unit business is based around building carriers and their mid-life refueling and complex overhaul (RCOH).

Earlier this year Secretary of Defense Chuck Hagel said George Washington would be defueled and decommissioned if the Pentagon continued to operate under the sequestration funding restrictions as part of the 2011 Budget Control Act (BCA).

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