Continental Maritime Gets $37.8 Million Navy ContractWednesday, June 28, 2017
The U.S. Navy awarded Continental Maritime a $37.8 million delivery order to cover shipyard work to the Ticonderoga-class cruiser USS Chosin.
Work is expected to be complete by April. A Pentagon announcement from June 26 said that the Chosin will receive depot-level maintenance, alterations and modifications to update and improve the ship’s military and technical capabilities.
Continental Maritime is part of publicly traded Huntington Ingalls Industries. Huntington Ingalls (NYSE: HII) is the same business that builds aircraft carriers in Virginia, though its San Diego business concentrates on ship repair rather than new construction.
The Southwest Regional Maintenance Center in San Diego awarded the deal under a previously awarded contract. It considered two offers.