Ingalls Receives $618 Million Grant
Ingalls Shipbuilding Division has received a $618 million contract modification to fund construction of a guided missile destroyer for the U.S. Navy.
The ship is the fourth of five destroyers the company was awarded in June 2013. Ingalls was previously awarded $55 million in advance, making the full contract $673 million. The five ship contract, part of a multi-year procurement program, allows Ingalls to build ships more efficiently by buying bulk material and moving the skilled workforce from ship to ship. With this contract, Ingalls will be building destroyers through 2023.