NEWPORT NEWS, Va., Oct. 2, 2014 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that company subsidiary The S.M. Stoller Corp. was awarded a $2 million contract by Consolidated Nuclear Security, LLC, for upgrades to a pump and treatment system at the National Nuclear Security Administration/Department of Energy Pantex Plant in Amarillo, Texas.
The contract covers 300 days of work Stoller will do to upgrade a system that extracts and treats contaminated groundwater.
The Pantex Plant is charged with maintaining the safety, security and effectiveness of the nation's nuclear weapons stockpile. Work done at the site includes nuclear weapons dismantlement; the development, testing and fabrication of high explosive components; and interim storage and surveillance of plutonium pits.
"Stoller has provided environmental services at the Pantex Plant for more than 15 years," said Pete Diakun, Newport News Shipbuilding's vice president, energy programs. "We are very pleased to have this opportunity to continue to support the site and to be a part of this community."
Stoller is a wholly owned subsidiary of HII, acquired on Jan. 2 and operating under HII's Newport News Shipbuilding division. Headquartered in Colorado with locations across the U.S., the company provides technical, environmental, ecological, waste management, remediation and consultation services to private sector companies and the U.S. government.
Huntington Ingalls Industries designs, builds and manages the life-cycle of the most complex nuclear and conventionally-powered ships for the U.S. Navy and Coast Guard. 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 also provides engineering and project management services expertise to the commercial energy industry, the Department of Energy and other government customers. Headquartered in Newport News, Virginia, HII employs more than 39,000 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: twitter.com/hiindustries
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 obtain new contracts, estimate our future contract costs and perform our contracts effectively; changes in government regulations and procurement processes and our ability to comply with such requirements; our ability to realize the expected benefits from consolidation of our Ingalls facilities; natural disasters; adverse economic conditions in the United States and globally; risks related to our indebtedness and leverage; 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 obligations to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make.