HII Closes on Asset Acquisition to Expand Shipbuilding Capacity

Core Insights - HII has successfully acquired an advanced manufacturing facility in South Carolina, enhancing its shipbuilding capacity and supporting national security initiatives [1][2] - The acquisition is expected to create hundreds of additional jobs and retain over 99% of the existing workforce, focusing on the construction of nuclear-powered submarine modules and aircraft carrier units for U.S. Navy programs [2][4] Company Expansion - The new facility spans 45 acres with over 480,000 square feet of manufacturing space, equipped with state-of-the-art manufacturing equipment and tooling [3] - HII aims to leverage the growing shipbuilding ecosystem in Charleston to expand its highly skilled maritime trades workforce [3] Economic Impact - The expansion of HII's operations in South Carolina is seen as a significant boost to the local economy and the state's role in national security [4] - U.S. Senators from South Carolina have highlighted the importance of this investment in strengthening the defense industrial base and creating jobs [4]