This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Photo Release -- Ingalls Shipbuilding Starts Fabrication On Aegis Destroyer John Finn (DDG 113)

Stocks in this article: HII

PASCAGOULA, Miss., Sept. 11, 2012 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) has started fabrication on the U.S. Navy's next Aegis guided missile destroyer, John Finn (DDG 113). The ship will be built at the company's Ingalls Shipbuilding division and will be the 29 th Arleigh Burke-class destroyer built at Ingalls.

DDG 113
Ingalls Shipbuilding burner specialist Roland Wilson uses an Avenger III Plasma Cutter to cut patterns into steel, marking start of fabrication for the Aegis guided missile destroyer John Finn (DDG 113). A Monday ceremony at Ingalls acknowledged the actual start of fabrication on Sept. 3.

A photo accompanying this release is available at http://media.globenewswire.com/hii/mediagallery.html?pkgid=14628

"This is a significant day for our company and for the U.S. Navy as Ingalls once again builds on the long legacy of surface combatant construction with the start of fabrication on DDG 113," said Bob Merchent, Ingalls' vice president, surface combatants and U.S. Coast Guard programs. "We have delivered 28 of these ships to the U.S. Navy, and our experienced and talented shipbuilders stand more than ready to produce new quality destroyers. Through our build plans and proven construction process, these ships will be built with the utmost efficiency and quality. Our DDG team is ready to get to work and get this production line up and running."

The start of fabrication milestone signifies that 100 tons of steel have been cut for DDG 113. Ingalls uses state-of-the-art robotic cutting machines to ensure the steel is cut and fabricated to exact Navy specifications. John Finn is expected to be delivered to the Navy in the third quarter of 2016. Ingalls also has a contract to build a 30 th destroyer, Ralph Johnson (DDG 114), with start of fabrication scheduled for 2013.

DDG 113 is named to honor John Finn, a Medal of Honor recipient who Adm. Chester Nimitz said displayed "magnificent courage in the face of almost certain death" during the attack on Pearl Harbor in 1941. Finn, a chief aviation ordnance man, used a machine gun at the former Kanoehe Bay Naval Air Station to fire at Japanese aircraft for two hours during the attack. He remained on duty for 18 hours despite receiving as many as 21 wounds. He retired as a lieutenant in 1956 and lived to be 100 before passing in 2010.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,637.53 +22.72 0.14%
S&P 500 1,942.26 +0.98 0.05%
NASDAQ 4,415.2010 -4.2770 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs