Tag: SHIP

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Huntington Ingalls Industries Selected To Perform Overhaul Work On USS Ramage (DDG 61)

PASCAGOULA, Miss., Sept. 14, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division has been awarded a $14 million base contract to perform an extended selected restricted availability on the Arleigh Burke-class (DDG 51) destroyer USS Ramage (DDG 61). With all options exercised, the total contract value would be $21.4 million. USS Ramage was originally built at Ingalls and delivered to the U.S. Navy in 1995. “Ingalls has a longstanding tradition in the overhaul/modernization business,” said Ingalls Shipbuilding President Brian Cuccias. “We are pleased with the Navy’s confidence in us to perform this work on DDG 61. It

Huntington Ingalls Industries Awards Educational Scholarships

NEWPORT NEWS, Va., Sept. 14, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that its newly established Huntington Ingalls Industries Scholarship Fund has awarded 78 scholarships to pre-kindergarten and post-secondary students. HII first announced in March that it was establishing a scholarship fund that would be administered by Scholarship Management Services, a division of Scholarship America. The scholarship fund was formed to provide financial assistance to qualified and selected dependent children of HII employees who are pursuing a post-secondary college or technical/vocation degree and dependent children who are enrolled in quality pre-kindergarten school readiness programs. “It’s exciting to

PHOTO RELEASE–Huntington Ingalls Industries Selected To Perform Overhaul Work On USS Ramage (DDG 61)

PASCAGOULA, Miss., Sept. 14, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division has been awarded a $14 million base contract to perform an extended selected restricted availability on the Arleigh Burke-class (DDG 51) destroyer USS Ramage (DDG 61). With all options exercised, the total contract value would be $21.4 million. USS Ramage was originally built at Ingalls and delivered to the U.S. Navy in 1995. “Ingalls has a longstanding tradition in the overhaul/modernization business,” said Ingalls Shipbuilding President Brian Cuccias. “We are pleased with the Navy’s confidence in us to perform this work on DDG 61. It

Plug Power and Mitsubishi Nichiyu Show Fuel Cell Powered Forklift at Logis Tech Tokyo

LATHAM, N.Y., Sept. 14, 2016 (GLOBE NEWSWIRE) — Plug Power Inc. (NASDAQ:PLUG), a leader in providing energy solutions that change the way the world moves, announces that Mitsubishi Nichiyu Forklift is displaying one of the company’s GenDrive fuel cell systems in its industrial trucks at Logis Tech Tokyo – the culmination of a year of product evaluation and engineering collaboration work by both companies. Mitsubishi Nichiyu will show the Plug Power GenDrive Model 1600 fuel cell in its own class 1 electric forklift truck. The company has been testing the fuel-cell powered forklift truck in Kyoto since June 2016. The

Reliance and Vorbeck Announce Partnership to Develop Graphene-Enhanced Elastomer Products

JESSUP, Md. and MUMBAI, India, Sept. 13, 2016 (GLOBE NEWSWIRE) — Reliance Industries Ltd, one of Asia’s top petrochemical production companies, and Vorbeck Materials Corp., a leading producer of graphene and graphene-based products, announced today that they have signed a joint development agreement to develop graphene-enhanced synthetic elastomer products.  “Vorbeck’s ability to develop innovative graphene-based products opens the door to many potential applications,” said Bharat B. Sharma, Sr. V.P. Product Development & Technical Service (Elastomers) for Reliance’s Petrochemicals division. “We look forward to bringing products that emanate from this partnership to market.” “We are excited to be working with Reliance,

SN3 to Sponsor 2016 National Cleanup Workshop

NEWPORT NEWS, Va., Sept. 13, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that its SN3 subsidiary is a platinum sponsor of the 2016 National Cleanup Workshop. Organized by Energy Communities Alliance, the event will take place Wednesday and Thursday at the Hilton Alexandria Mark Center in Alexandria. During the workshop, Department of Energy executives and site officials, industry leaders, and other stakeholders will discuss lessons learned, progress and development priorities for the Department of Energy’s Office of Environmental Management, including a path forward for high-level waste at the Hanford and Savannah River sites. “As an environmental program

Forecast International: Insatiable Demand for Data and Connectivity Drive Commercial Satellite Market

NEWTOWN, Conn., Sept. 12, 2016 (GLOBE NEWSWIRE) — Market intelligence firm Forecast International is projecting that more than 540 satellites will be produced worldwide over the next 10 years.  The company’s new study “The Market for Commercial Communications Satellites” reports that, from 2016-2025, the value of production of this market will total an estimated $60.7 billion (in FY16 dollars). The study covers some 68 individual satellite production programs. Sample products in this aerospace segment include the Airbus Defence and Space OneWeb, the Boeing-702, the Space Systems Loral 1300, and the Thales Alenia Space Iridium NEXT. “Demand for satellite services is

Energy

Huntington Ingalls Industries Continues to Make Strides on Aircraft Carrier John F. Kennedy (CVN 79)

NEWPORT NEWS, Va., Sept. 12, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding division placed a 900-ton superlift into dry dock, continuing construction of the nuclear-powered aircraft carrier John F. Kennedy (CVN 79). As Kennedy begins to take shape in the dry dock, the ship’s cost and construction schedule continue on track with significant improvement over its predecessor, the first-of-class Gerald R. Ford (CVN 78). “We continue to focus on reducing cost, and we are pleased with our progress,” said Mike Shawcross, Newport News’ vice president, CVN 79 carrier construction. “The incorporation of

PHOTO RELEASE–The Apprentice School at Newport News Shipbuilding Praised as Center for Training Excellence

NEWPORT NEWS, Va., Sept. 08, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that The Apprentice School at its Newport News Shipbuilding division has been reaccredited until 2022 by the Council on Occupational Education. To retain accreditation, The Apprentice School must maintain quality programs, undergo an extensive self-review process, and continue to meet the council’s standards and conditions for accreditation. “The Apprentice School has become a national model for apprenticeship programs,” said Ray Bagley, Newport News’ vice president, trades operations. “When an institution has operated for 97 years, it’s easy to fall back on ‘what we’ve always done.’

Hooker Furniture Reports Fiscal First Half Results

MARTINSVILLE, Va., Sept. 08, 2016 (GLOBE NEWSWIRE) — Hooker Furniture (NASDAQ:HOFT) today reported consolidated net sales of $136.2 million and net income of $5.3 million, or $0.46 per diluted share, for its fiscal 2017 second quarter ended July 31, 2016. Earnings per diluted share increased nearly 28% from $0.36 in the comparable prior year quarter.   For the fiscal 2017 first-half, consolidated net sales were $258 million, and net income was $7.8 million or $0.68 per diluted share. Earnings per diluted share decreased 1.4% from $0.69 in the comparable prior year first half.  Included in fiscal 2017 first half results is

Global Defense Market on Upswing as Asia Spearheads Growth

NEWTOWN, Conn., Sept. 8, 2016 (GLOBE NEWSWIRE) — After several years in the doldrums, the global defense market once again returned to growth in 2015. Growth began occurring not only where regional rivalries and strategic crossroads served to potentially unleash conflict, but also in markets once on long downward trajectories such as in Europe. While further market growth in 2016 appears to be negligible in U.S. dollar terms, according to Forecast International the overall global trend continues to indicate room for further defense investment expansion.   “The largest mitigating factor in our 2015-2016 spending assumptions relates to negative fluctuations in

VIDEO RELEASE–Ingalls Shipbuilding Employee Featured in Huntington Ingalls Industries’ Shape of Freedom Campaign

PASCAGOULA, Miss., Sept. 06, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) is showcasing Dianna Genton, a naval architect at its Ingalls Shipbuilding division, as the company’s latest brand ambassador for its new Shape of Freedom advertising campaign. Genton, a 13-year Ingalls veteran from Fort Myers, Florida, shares her dedication to her work at Ingalls through a series of print and online ads and a company video. “With everyone’s role at the company, we play a big part in shaping freedom,” Genton said. “We are building huge, complex systems that protect our country.” See Genton’s ad and view her Shape

VIDEO RELEASE–AMSEC Employee Featured in Huntington Ingalls Industries’ Shape of Freedom Campaign

NEWPORT NEWS, Va., Sept. 06, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) is showcasing Ali Harkous, manager of the surface program management office at HII’s AMSEC subsidiary, as the company’s latest brand ambassador for its new Shape of Freedom advertising campaign. Harkous, an immigrant from Lebanon and U.S. Navy veteran, shares his dedication to his work at AMSEC through a series of print and online ads and a company video. Harkous left Lebanon during a civil war in the 1970s and immigrated to the U.S. to attend college. Following graduation, he served in the U.S. Navy and then began

Iridium Leads Maritime Market with High-Performing Numbers

MCLEAN, Va., Sept. 06, 2016 (GLOBE NEWSWIRE) — Iridium Communications Inc. (NASDAQ:IRDM) announced today that over the last 12 months, ending June 30, 2016, the company shipped over 2,200 Iridium Pilot® units, concluding with one of the best quarters in company history.  Iridium Pilot, which is powered by Iridium OpenPort®, Iridium’s current global broadband service, is one of the fastest growing maritime products in the Mobile Satellite Service (MSS) industry today.  Over the same 12-month period, Iridium OpenPort subscriber base increased by 9 percent across the company’s vast partner network and customer base. “We equip our customers’ fleets with the

VIDEO RELEASE–Ingalls Shipbuilding Completes First Set of Builder’s Trials for Destroyer John Finn (DDG 113)

PASCAGOULA, Miss., Sept. 02, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today the completion of the first round of sea trials for the guided missile destroyer John Finn (DDG 113). The Arleigh Burke-class (DDG 51) ship, built at HII’s Ingalls Shipbuilding division, spent three days in the Gulf of Mexico testing the ship’s main propulsion system and other ship systems. “The DDG 51 program has been the backbone of our shipyard for nearly three decades,” said Ingalls Shipbuilding President Brian Cuccias. “Getting DDG 113 underway is a significant milestone in this program, and we are looking forward to

Eckrich, Operation Homefront and Albertsons Honor Military Family

LISLE, Ill., Sept. 02, 2016 (GLOBE NEWSWIRE) — Eckrich, the makers of naturally hardwood smoked sausage and savory deli meats, partnered with Albertsons and Operation Homefront, a national nonprofit whose mission is to build strong, stable, and secure military families, to honor a Texas military family Thursday morning. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cd72796f-2ac0-4bd0-b3ec-e6a5fb345634. Eckrich hosted a special presentation for the Debiak family at the Albertsons headquarters in Ft. Worth, Tex., where they surprised them with one year of free groceries, valued at over $13,000, at Albertsons.  The family was also presented with tickets to the Alabama

PHOTO RELEASE–Huntington Ingalls Industries Completes Submarine Post-Shakedown Availability

NEWPORT NEWS, Va., Aug. 31, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that its Newport News Shipbuilding division has completed post-shakedown availability (PSA) work on the submarine USS John Warner (SSN 785). It was the shipyard’s first PSA of a Virginia-class submarine and the first accomplished without having to put the boat into a dry dock for external hull work. The submarine was redelivered to the U.S. Navy today. “I could not be more proud of the sailors and our shipbuilders for this tremendous accomplishment,” said Jim Hughes, Newport News’ vice president, submarines and fleet support. “A

Globe Newswire

FEI Celebrates Shipment of 1,000th Helios DualBeam System

HILLSBORO, Ore., Aug. 31, 2016 (GLOBE NEWSWIRE) — FEI (NASDAQ:FEIC) today announced a milestone of the 1,000th Helios™ DualBeam system shipped since the product family was introduced in 2006. The 1,000th system was manufactured in FEI’s Brno plant and was shipped earlier this month to a semiconductor customer who is utilizing the system for advanced failure analysis on sub-20nm semiconductor devices. The small DualBeam (SDB) platform combines a focused ion beam (FIB) and scanning electron microscope (SEM) to enable industry-leading three-dimensional (3D) characterization, analysis and image reconstruction, nano-prototyping (fabrication and testing), and high-quality transmission electron microscope (TEM) sample preparation for

PHOTO RELEASE–Ingalls Shipbuilding Awarded $88.2 Million Advance Procurement Contract for a Ninth NSC

PASCAGOULA, Miss., Aug. 30, 2016 (GLOBE NEWSWIRE) — Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division today received an $88.2 million fixed-price contract from the U.S. Coast Guard to purchase long-lead materials for a ninth National Security Cutter (NSC). “NSC 9 will build on the performance record of her predecessors in the Legend class,” said Ingalls Shipbuilding President Brian Cuccias. “Coast Guard leadership has stated these ships help fill a need to bolster front-line operations in the fight against crime, especially drug interdictions. Ingalls is proud and honored to be providing this most advanced fleet of cutters to enable the Coast

Galaxy Gaming Announces the Completion of a $10.5 Million Term Loan Which Refinances Existing Long-Term Debt

LAS VEGAS, Aug. 29, 2016 (GLOBE NEWSWIRE) — Galaxy Gaming, Inc. (OTC:GLXZ), announced today that it has successfully completed the closing of a new $10.5 million Term Loan that matures in August 2021. The new $10.5 million Term Loan refinances the existing long-term debt outstanding which originated due to the 2011 asset purchase of Prime Table Games.  The Term Loan was placed with Breakaway Capital Management, LLC an institutional lender and will include a six-month interest only period, then amortizing at 10% per year until maturity.  The refinancing transaction will reduce the Company’s debt service payments and yield approximately $2.9