GlobeNewswire Inc | Nov 23, 2020 06:00PM EST

November 23, 2020

NEWPORT NEWS, Va., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding division has been awarded a contract modification from General Dynamics Electric Boat in support of construction on the first two Columbia-class ballistic missile submarines

The contract modification, valued at approximately $2.2 billion, provides continued design support efforts, as well as the construction and delivery of six module sections for each of the first two Columbia-class submarines.

As part of the contract, Newport News will deliver the completed modules to Electric Boat for final assembly. The contracted module delivery dates are scheduled to start in November 2022 with the last module delivery taking place by January 2028.

We are pleased to be a crucial design and manufacturing contributor to the Columbia-class program, said Charles Southall, Newport News vice president of Columbia-class Submarine Construction. This contract continues NNS longstanding and strong commitment to the Navys undersea enterprise through the design and construction of major modules and assemblies necessary to achieve program objectives.

Newport News is a major contractor and shipbuilding partner in the Columbia-class program, and in May 2019 began advance construction activities on the lead ballistic missile submarine under contract to Electric Boat.

The Columbia class will replace the fleet of Ohio-class ballistic missile submarines. The lead ship is scheduled to be delivered to the Navy in 2027.

Huntington Ingalls Industries is Americas largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HIIs Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HIIs Technical Solutions division supports national security missions around the globe with unmanned systems, defense and federal solutions, and nuclear and environmental services. Headquartered in Newport News, Virginia, HII employs more than 42,000 people operating both domestically and internationally. For more information, visit:

-- HII on the web: www.huntingtoningalls.com -- HII on Facebook: www.facebook.com/HuntingtonIngallsIndustries -- HII on Twitter: www.twitter.com/hiindustries -- HII on YouTube: www.youtube.com/huntingtoningalls -- HII on Instagram: www.instagram.com/huntingtoningalls

Contact:

Duane Bourne

Duane.A.Bourne@hii-co.com

(757) 380-3581