July 21, 2020 08:30 ET
| Source: Huntington Ingalls Industries, Inc.
NEWPORT NEWS, Va., July 21, 2020 (GLOBE NEWSWIRE) — Huntington Ingalls Industries’ (NYSE:HII) Technical Solutions division announced changes to the organization and alignment of its business groups. Following a series of strategic acquisitions and major contract awards, coupled with a review of existing capabilities and the division’s organizational structure, Technical Solutions reconstituted its internal organization in order to better serve existing and future customers while achieving support function efficiencies. The previous Fleet Support group and Mission Driven Innovative Solutions (MDIS) group were merged to form the Defense and Federal Solutions group.
Garry Schwartz, former president of MDIS, will lead Defense and Federal Solutions. Schwartz retired from the Marine Corps as a senior officer in 2004 and has held positions of increasing responsibility in the private sector and within HII, with an emphasis on support to the defense and federal civilian markets.
“We are incredibly excited about what we have accomplished and what we plan to deliver to our customers going forward,” Schwartz said. “We have some of the most talented engineers, scientists, analysts, and technicians in the world working on helping our government solve some of its most important challenges. We look forward to leading the charge in changing how innovative solutions are provided to our government customers, particularly in the ISR and military simulation and training markets, while continuing to build on the legacy of over a century of cutting-edge naval shipbuilding and decades of fleet sustainment excellence.”
The three Technical Solutions business groups are now:
Defense and Federal Solutions, focused on solving tough national security challenges for the Department of Defense, the intelligence community, federal civilian agencies, and commercial customers around the globe. The group’s expertise includes maritime fleet sustainment; intelligence, surveillance and reconnaissance; cyber operations; secure enterprise information technology engineering and operations; advanced modeling, simulation and training; and logistics management.
Unmanned Systems, creating advanced unmanned maritime solutions for defense, marine research and commercial applications. Serving customers in more than 30 countries, Unmanned Systems provides design, autonomy, manufacturing, testing, operations and sustainment of unmanned systems, including unmanned underwater vehicles and unmanned surface vessels.
Nuclear and Environmental Services, supporting the national security mission of the Department of Energy through the management and operation of national nuclear laboratories, as well as environmental remediation at legacy cleanup sites. Through decades of experience in safe nuclear operations, the group is also postured to serve the growing commercial nuclear power plant decommissioning market.
Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s 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. HII’s 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:
Statements in this release, other than statements of historical fact, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Factors that may cause such differences include: changes in government and customer priorities and requirements (including government budgetary constraints, shifts in defense spending, and changes in customer short-range and long-range plans); our ability to estimate our future contract costs and perform our contracts effectively; changes in procurement processes and government regulations and our ability to comply with such requirements; our ability to deliver our products and services at an affordable life cycle cost and compete within our markets; natural and environmental disasters and political instability; our ability to execute our strategic plan, including with respect to share repurchases, dividends, capital expenditures and strategic acquisitions; adverse economic conditions in the United States and globally; health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic; changes in key estimates and assumptions regarding our pension and retiree health care costs; security threats, including cyber security threats, and related disruptions; and other risk factors discussed in our filings with the U.S. Securities and Exchange Commission. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business, and we undertake no obligation to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make. This release also contains non-GAAP financial measures and includes a GAAP reconciliation of these financial measures. Non-GAAP financial measures should not be construed as being more important than comparable GAAP measures.