Huntington Ingalls: La. yard closure on schedule

AP News
Posted: Apr 01, 2011 4:21 PM
Huntington Ingalls: La. yard closure on schedule

The chief executive of newly created shipbuilding contractor Huntington Ingalls Industries Inc. says the company is on schedule to close its Louisiana shipyard in 2013.

However, he said there's still time to consider other alternatives.

CEO Mike Petters made the comments to reporters Friday at company headquarters in Newport News, Va. The company began trading the previous day on the New York Stock Exchange.

Huntington Ingalls is the product of a spinoff of defense contractor Northrop Grumman Corp. It owns shipyards at Avondale, La., Pascagoula, Miss., and Newport News. It employs nearly 38,000 people nationwide and is Virginia's largest industrial employer.

Petters says keeping the Louisiana shipyard open would require a new, sustainable operating plan. He said he's unsure about the details of such a plan.