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Huntington Ingalls Industries Opens Houston Office To Pursue Energy Business For Avondale Subsidiary

Stocks in this article: HII

NEWPORT NEWS, Va., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Huntington Ingalls Industries (NYSE:HII) announced today that it is opening an office in Houston, Texas, for business development efforts to pursue opportunities in the energy infrastructure market for its Avondale subsidiary.

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"We have a great workforce at Avondale with unique engineering and manufacturing capabilities that have been demonstrated for many decades," said Mike Petters, HII's president and chief executive officer. "Additionally, these skilled men and women are located in the heart of a region where there is more manufacturing demand than the current suppliers can meet, particularly in the energy markets. Coupling this talent with our world-class facilities leads us to believe we have everything in place at Avondale to excel in this market."

Chris Kastner, HII's corporate vice president and general manager, corporate development, who is leading this effort for Avondale, added, "We are in active discussions with respected companies in the oil and gas infrastructure market. We've satisfied ourselves that the engineering and construction elements of these projects are very comparable to shipbuilding, and we are working very hard, both internally and with prospective customers, evaluating and competing for new opportunities. These upcoming large projects should be made in America by American craftsmen and craftswomen."

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