Newport News Shipbuilding suspects intentionally faulty welds on multimillion-dollar Naval vessels [FOX News]
Huntington Ingalls Industries, Inc. (HII)
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Source: FOX News
Newport News Shipbuilding informed the Department of Justice that there may be intentionally faulty welds on non-critical components located on in-service submarines and aircraft carriers, according to a report by USNI News Thursday. The faulty work was discovered by internal quality assurance systems and early indications show that some of the welding errors were intentional, according to a statement to USNI News. "We recently discovered through internal reporting that the quality of some welds did not meet our high-quality standards. Upon this discovery, we took immediate action to communicate with our customers and regulators, investigate, determine root cause, bound these matters and insert immediate corrective actions to prevent any recurrence of these issues," the statement reads. It continues: "Newport News Shipbuilding is committed to building the highest-quality aircraft carriers and submarines for the U.S. Navy. We do not tolerate any conduct that compromises our comp
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News
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- HII is Awarded Amphibious Multi-Ship Procurement ContractsGlobeNewswire
- HII Names Steve Powell as Corporate Vice President and TreasurerGlobeNewswire
- HII Delivers Advanced REMUS 620 UUVs to NOAA Less than 24 Months after UnveilingGlobeNewswire
- Huntington Ingalls Industries, Inc. (NYSE: HII) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating. They now have a $285.00 price target on the stock, up previously from $280.00.MarketBeat
HII
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- 8/1/24 - Beat
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Sec Filings
- 9/17/24 - Form 8-K
- 9/16/24 - Form 4
- 9/16/24 - Form 4
- HII's page on the SEC website