Nov 28 Huntington Ingalls Industries
said on Wednesday it is looking into whether a Louisiana
shipyard scheduled to be closed next year could be used for
energy projects in hopes of keeping it open.
The shipbuilder employs roughly 3,000 workers at its
268-acre Avondale shipyard outside New Orleans.
Mike Petters, chief executive of Huntington Ingalls, said
the company was taking a "hard look" at whether the shipyard
could be redeployed in the energy space. He said there could be
opportunities to develop partnerships on energy infrastructure
"We have a great workforce, and it's sitting right in the
middle of an area where there's more manufacturing demand in
terms of projects that have been announced in the energy space,"
Petters said at a Credit Suisse investor conference presentation
that was broadcast over the Internet.
"Our view of it is that's a way to take an asset that really
is headed to nothing and turn it into something," Petters added.
He said that if no alternate uses materialize, the company
plans to close the shipyard after work there winds down in 2013.
Petters reiterated that Huntington Ingalls, which is based
in Newport News, Virginia, and was spun off from defense
contractor Northrop Grumman last year, expects flat
sales through 2015 but margins would expand as the company works
its way through unfavorable contracts that will fall off next
Huntington Ingalls shares were off 0.5 percent at $40.81 in