Photo caption: NAVAL BASE GUAM (Jan. 18, 2025) – The Virginia-class fast-attack submarine USS Minnesota (SSN 783) transits Apra Harbor, Naval Base Guam, Jan. 18, 2025. USS Minnesota was built at HII’s Newport News Shipbuilding division and delivered to the U.S. Navy in 2013. (U.S. Navy photo by Lt. James Caliva)
Feb. 7, 2025
HII’s Weekly News Digest is compiled every Friday by the Corporate Communications team to summarize and highlight news stories of significance to the company.
HII Reports Fourth Quarter 2024 and Full Year Earnings Results: GovCon Wire reported on Thursday that HII reported $3 billion in fourth quarter revenues for 2024 and saw full year revenues increase to $11.5 billion. The company logged $12.1 billion in new contract awards and ended the year with a total backlog of approximately $48.7 billion. Inside Defense reported on Thursday that HII continues to develop outsource partners for labor and production, combined with other business strategies, to increase shipbuilding production throughput. Last month, HII closed its acquisition of metal fabrication facilities and equipment previously owned by a South Carolina-based company. During the earnings call, CEO Chris Kastner said that acquisition makes sense, although further vertical integration in the manufacturing process isn’t in the immediate plan. USNI News reported on Thursday that the HII team is finalizing the detail design and construction contracts for the Virginia-class Block V Baltimore (SSN 812) and Atlanta (SSN 813) submarines following an injection of congressional funds to make up for cost overruns.
House, Senate Diverge On Budget Plans: Politico reported on Friday that House Republicans will work through the weekend to draft a one-bill budget framework requested by President Donald Trump. House Ways and Means Chair Jason Smith, R-Mo., and Speaker Mike Johnson, R-La., argue that a single, comprehensive bill is the only way to ensure the budget passes the House. The strategy places the House at loggerheads with the Senate, which is moving forward with a two-bill budget. Politico reported on Wednesday that Senate Budget Committee Chairman Lindsey Graham, R-S.C., plans to separate spending so that the border, energy and defense are lumped together while a second bill would include a tax package that Senate Republicans would still need to negotiate and pass later this year. Smith dismissed Graham’s plan as ineffective, while Johnson emphasized the House’s leadership role in shaping the budget. The Senate Republicans are scheduled to meet with Trump Friday evening at Mar-a-Lago to talk about the two-bill approach. Johnson said he plans to meet with the president later in the weekend – they are both scheduled to attend the Super Bowl.
Davie In Talks To Buy US Shipbuilder: Defense News reported on Wednesday that Quebec-based shipbuilder, Davie, plans to acquire a U.S. shipyard, expanding the company’s footprint to fall within each of the ICE Pact’s member nations. Davie is set to play a key role in the joint icebreaker production agreement between Canada, the U.S. and Finland, and the acquisition comes as the company is in the process of modernizing its Lévis, Quebec, shipyard. The project will also help the company build and deliver seven heavy icebreakers and two hybrid ferries under Canada’s National Shipbuilding Strategy. In 2023, Davie also acquired Helsinki Shipyard, providing it access to Finland’s leading icebreaker intellectual property. Meanwhile, the Wall Street Journal reported on Wednesday that President Donald Trump has said the U.S. will order “about 40 Coast Guard big icebreakers.” The president has said that the Arctic needs to be moved higher on the country’s priorities list so the U.S. can compete with Russia and China as shipping lanes become more widely available.
REMUS UVV Completes Confidence Course: Naval Today reported on Tuesday that HII’s Mission Technologies division has tested its medium-class unmanned underwater vehicle, REMUS 620, on the U.S. Navy’s confidence course in Bangor, Washington. On the course, REMUS successfully underwent the full range of pre-mission checks and ballasting. This is the first utilization of the U.S. Navy’s confidence course by an industry-provided MUUV, and it highlights the partnership between the Unmanned Undersea Vehicles Group ONE (UUVGRU-1) and industry. Executive Gov reported on Thursday, Jan. 30, that the confidence course is meant to offer repeatable and comparable performance data for capability development. This aligns with the Chief of Naval Operations’ NAVPLAN Project 33 and submarine force objectives, which are intended to bolster warfighting readiness.
| Social Media Highlight Of The Week
Posted Thursday on Mission Technologies’ LinkedIn page:
A team from HII’s Mission Technologies division recently familiarized US Navy sailors and technicians with the features of the REMUS 620 medium-class unmanned underwater vehicle (MUUV). The familiarization session followed a highly successful operational period at the U.S. Navy’s UUV Confidence Course in Bangor, Washington. “Being able to show this latest design of our MUUV to our sailors right after operating it on their confidence course was a real privilege for us,” said Adrian Gonsalves, the REMUS 620 product manager at Mission Technologies’ Uncrewed Systems group. “These sailors train the fleet and operate the UUVs in the fleet. The feedback we got was very positive.” Gonsalves offered special thanks to Unmanned Undersea Vehicle Group ONE (UUVGRU-1) for making the event a reality. “We incorporated a lot of improvements to make the vehicle easier to maintain and operate,” he said, “and it’s hard to beat seeing that first-hand.” Learn more about HII’s Uncrewed Systems at: https://hii.com/what-we-do/capabilities/unmanned-systems/.” |
HII, Private Shipbuilders Announce Hiring Initiatives: WCIV reported on Monday that HII plans to create more than 250 new jobs at its recently acquired Goose Creek, South Carolina, facility. HII closed on the acquisition of the assets and facilities of the former W International metal fabricator on Jan. 22, located just north of Charleston. That includes the company’s roughly 500 employees who agreed to continue working under HII’s ownership. The facility now operates within HII’s Newport News Shipbuilding division, supporting Virginia-class and Columbia-class submarines as well as aircraft carrier programs. Meanwhile, the Wall Street Journal reported on Thursday that Fincantieri plans to hire as many as 1,500 workers at its Wisconsin shipyards, including welders and experienced engineers and designers. 1819News.com reported on Monday that Austal USA will invest more than $400 million in a new submarine module manufacturing facility in Mobile, Alabama, which will create 1,162 jobs. The 369,600-square-foot facility will support the Virginia and Columbia classes. CTPost also reported on Monday that General Dynamics Electric Boat plans to hire 3,000 employees this year. Approximately 1,300 people will work in engineering, design and other operations, at the company’s offices in New London. Another 400 new employees will work at the Groton shipyard at a center focused on final assembly and testing. The remaining 1,350 newcomers are expected to work at the company’s facility in Quonset Point, Rhode Island.
HII’s Weekly News Digest is produced by HII’s Corporate Communications team and posted to Homeport every Friday.
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