world of warships operation defense of newport

With Newport News, we are creating a $4 billion world class, fully capable shipbuilding enterprise with expertise in every class of nuclear and non-nuclear naval vessel. In announcing the definitive agreement, Kent Kresa, Northrop Grumman's chairman and CEO, said, 'We are very pleased with our strategic acquisition of Newport News. Under the acquisition agreement, signed November 8, 2001, the shareholders of Newport News had the option of receiving $67.50 in cash per share or an equivalent value in Northrop Grumman stock. shipyards involved in the nuclear submarine business are Newport News and the Electric Boat Corporation, already part of the General Dynamics family. Federal opposition to the acquisition of Newport News by General Dynamics centered on fears that the merger would give General Dynamics a monopoly in the construction of nuclear-powered submarines. The bid from Northrop Grumman was at first regarded as hostile, although shortly after abandoning its plans to combine with General Dynamics, Newport News began serious discussions with officials of Northrop Grumman. Although Newport News stockholders were initially partial to the advances of another 'suitor,' General Dynamics Corporation, government opposition to the combination and a Justice Department suit to block the acquisition eventually prompted Newport News to drop its plan. Northrop Grumman's acquisition of Newport News Shipbuilding in November 2001 climaxed a bitter battle between two of the country's biggest defense contractors. Although its specialty vessels are nuclear-powered aircraft carriers and submarines, the shipyard has the capability to design, build, and maintain every type of ship in the fleet of the U.S. Headquartered in the Virginia city for which it is named, the shipyard's main production facility sprawls across more than 550 acres that stretch along two miles of waterfront in the Hampton Roads port area. Although the bulk of its business is for the military, the shipyard provides after-market services, including overhauls and repairs, for commercial vessels as well. Another important area of its business is the design and construction of nuclear-powered submarines. A subsidiary of Northrop Grumman Corporation since late 2001, the company is the only shipyard in the United States that designs, builds, and refuels nuclear-powered aircraft carriers.

Newport News Shipbuilding for more than a century has designed, built, and repaired a wide variety of vessels for the U.S.

World of warships operation defense of newport