Huntington Ingalls Industries Disappointed Over Losing New Frigate Contract

An artist’s concept of the HII Patrol Frigate.

USNI News: Huntington Ingalls Industries Execs ‘Disappointed’ Over FFG(X) Loss

Huntington Ingalls Industries executives are still smarting a week after the Navy awarded a potentially multi-billion-dollar frigate contract to rival shipbuilder Fincantieri.

HII has a backlog of work worth $45 billion, leaving the firm in a strong financial position, Mike Petters, chief executive of HII, told analysts during a Thursday morning conference call. However, there’s no denying the company wanted the FFG(X) design and construction award.

“We’re obviously very disappointed in the way it came out, but we’ll get a debrief from the Navy on what happened and how it could have gone better, and we’ll go forward from there,” Petters said.

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WNU Editor: Red flags are already being raised for this contract .... The US Navy just picked a builder for its new frigate, but there may already be a problem ahead (Business Insider).