HII wins $336M Navy contract for CVN 82 aircraft carrier materials

HII (NYSE: HII) has been awarded a $336 million undefinitized contract by the U.S. Navy to begin procurement of long-lead time materials for the construction of planned aircraft carrier CVN 82, according to a company statement.

The contract, awarded to HII's Newport News Shipbuilding division in Newport News, Va., will initiate advanced procurement of propulsion plant materials considered critical to the future construction of the nuclear-powered carrier.

"Ordering the materials necessary to build the world's mightiest aircraft carriers is a critical first step as we begin planning for CVN 82," said Bryan Caccavale, Newport News Shipbuilding vice president of program management. "This contract sends an important demand signal to the thousands of suppliers across the nation who make up the aircraft carrier industrial base."

CVN 82 is planned as a nuclear-powered U.S. aircraft carrier. The long-lead time materials contract represents an early stage of the ship's construction process, covering components that require extended procurement timelines before active shipbuilding can begin.

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