HII Has ‘Unprecedented’ Backlog of Shipbuilding Work

Huntington Ingalls Shipbuilding has $46.5 billion worth of work to complete within 10 years or so, an amount Mike Petters, the company's president and CEO, called an “unprecedented backlog of shipbuilding work” that would serve as a strong foundation for the future. It's a future that also involves Huntington Ingalls selling its San Diego Shipyard to Titan Acquisition Holdings and focusing more on unmanned underwater technology.

Titan announced the deal to acquire the company's West Coast shipyard on Wednesday. Financial terms were not disclosed, but Huntington Ingalls will get a minority stake in Titan.

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