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Huntington Ingalls Industries Wins Planning Yard Contract Worth A Potential $724 Million

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PASCAGOULA, Miss., June 08, 2021 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that its Ingalls Shipbuilding division has been awarded a contract with a potential total value of $724 million for planning yard services in support of in-service amphibious ships.

“Ingalls has a 40-year history of providing planning yard services to ships in active service,” Ingalls Shipbuilding President Kari Wilkinson said. “We consider this a core competency and a critical part of our mission to support the Navy in meeting fleet commitments around the world.”

Planning yard services provided will be in support of amphibious transport dock (LPD 17), assault (LHD 1 and LHA 6), command (LCC 19), and dock landing (LSD 41/49) classes of ships. The contract includes options over a seven-year period and covers fleet modernization availability planning; engineering, design and logistics support; material procurement; program and configuration data management; and on-site technical support through established homeport and planning yard offices and resources.

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division supports national security missions around the globe with unmanned systems, defense and federal solutions, and nuclear and environmental services. Headquartered in Newport News, Virginia, HII employs more than 41,000 people operating both domestically and internationally. For more information, please visit www.huntingtoningalls.com.

Statements in this release, other than statements of historical fact, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed in these statements. Factors that may cause such differences include: changes in government and customer priorities and requirements (including government budgetary constraints, shifts in defense spending, and changes in customer short-range and long-range plans); our ability to estimate our future contract costs and perform our contracts effectively; changes in procurement processes and government regulations and our ability to comply with such requirements; our ability to deliver our products and services at an affordable life cycle cost and compete within our markets; natural and environmental disasters and political instability; our ability to execute our strategic plan, including with respect to share repurchases, dividends, capital expenditures and strategic acquisitions; adverse economic conditions in the United States and globally; health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic; changes in key estimates and assumptions regarding our pension and retiree health care costs; security threats, including cyber security threats, and related disruptions; and other risk factors discussed in our filings with the U.S. Securities and Exchange Commission. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business, and we undertake no obligation to update any forward-looking statements. You should not place undue reliance on any forward-looking statements that we may make. This release also contains non-GAAP financial measures and includes a GAAP reconciliation of these financial measures. Non-GAAP financial measures should not be construed as being more important than comparable GAAP measures.

 

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Source: https://www.globenewswire.com/news-release/2021/06/08/2244013/14858/en/Huntington-Ingalls-Industries-Wins-Planning-Yard-Contract-Worth-A-Potential-724-Million.html

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Video Release — Huntington Ingalls Industries Launches First Flight III Guided Missile Destroyer Jack H. Lucas (DDG 125)

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PASCAGOULA, Miss., June 11, 2021 (GLOBE NEWSWIRE) — Today, Huntington Ingalls Industries’ (NYSE: HII) Ingalls Shipbuilding division announced the successful launch of the Navy’s first Flight III Arleigh Burke-class (DDG 51) guided missile destroyer Jack H. Lucas (DDG 125).

DDG 125 will feature enhanced detection and engagement of targets, as well as ballistic missile defense capability.

“Our shipbuilders continue to set the standard for teamwork by achieving this important construction milestone,” Ingalls Shipbuilding President Kari Wilkinson said. “They have shown tremendous resolve in bringing this first Flight III destroyer to a timely launch. We will continue to work closely with our Navy customer as we progress toward delivering the highly advanced ship that our Navy expects and our nation deserves.”

A video accompanying this release is available at: http://newsroom.huntingtoningalls.com/file/ddg-125-launch.

To date, Ingalls has delivered 32 Arleigh Burke-class destroyers to the Navy. Other destroyers currently under construction include Frank E. Peterson Jr. (DDG 121), Lenah Sutcliffe Higbee (DDG 123), Ted Stevens (DDG 128) and Jeremiah Denton (DDG 129).

DDG 125 is named for Jack H. Lucas, a longtime resident of Hattiesburg, Mississippi, who was the youngest Marine and youngest service member in World War II to receive the Medal of Honor.

Arleigh Burke-class destroyers are highly capable, multi-mission ships and can conduct a variety of operations, from peacetime presence and crisis management, to sea control and power projection — all in support of the United States military strategy. The guided missile destroyers are capable of simultaneously fighting air, surface and subsurface battles. The ship contains a myriad of offensive and defensive weapons designed to support maritime defense well into the 21st century.

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division supports national security missions around the globe with unmanned systems, defense and federal solutions, and nuclear and environmental services. Headquartered in Newport News, Virginia, HII employs more than 41,000 people operating both domestically and internationally. For more information, visit:

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Source: https://www.globenewswire.com/news-release/2021/06/11/2246013/14858/en/Video-Release-Huntington-Ingalls-Industries-Launches-First-Flight-III-Guided-Missile-Destroyer-Jack-H-Lucas-DDG-125.html

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Archer Unveils eVTOL Aircraft

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  • On June 10, Archer debuted its first demonstrator aircraft, capable of a 60 mile range at 150mph, in a COVID-safe event and via global livestream
  • The milestone event tapped leading XR and gaming technologies to bring Maker’s unveil to life, a first for the eVTOL industry 
  • Award-winning director and strategist Kenny Taht has joined the company as Chief Creative Officer, bringing over three decades of production experience to the Archer team

PALO ALTO, Calif., June 10, 2021 (GLOBE NEWSWIRE) — California-based Archer, a company designing and developing electric vertical takeoff and landing aircraft (eVTOL), debuted its Maker aircraft both live in Los Angeles and streamed to a global audience on the evening of June 10. The intimate, COVID-safe in-person event was held at the Hawthorne Hangar Operations and utilized industry leading XR technology to take audiences on a virtual ride on Maker.

In order to create a unique and completely immersive experience, Archer utilized movie production technology to bring its aircraft to life, an eVTOL industry first. The company built a 2,400 sq ft XR volume space that simulated a commercial flight and demonstrated how Archer will shape the next era of travel by transforming how people approach everyday life, work, and adventure. By creating a mass shared simulation using the film industry’s most cutting edge technology, attendees were able to virtually ride Archer’s aircraft, experiencing the next transportation revolution. 

“Archer has a big, bold company vision and our approach to this milestone moment had to match that,” said Louise Bristow, who leads Marketing and Communications for Archer and assembled the creative team. “We wanted to deliver an experience that went beyond the conventions of normal product launches and to bring together a unique group of partners to create something truly immersive for our audience.”

“Maker’s unveil has been years in the making and marks a pivotal juncture for the eVTOL industry and future of transportation,” said Brett Adcock, co-founder and co-CEO of Archer. “Every day at Archer, we’re working to build the future, and we have never felt closer than we did introducing the world to Maker. 

Adam Goldstein, co-founder and co-CEO of Archer added “We’re excited to continue reaching new milestones and introducing our largest cities to the next generation of safe, sustainable travel.” 

Archer’s new Chief Creative Officer Kenny Taht, was at the helm of the event’s creative direction, drawing on over three decades of experiential design and television production to bring Maker to life. “True innovation requires inspiration, which is why the team at Archer put great emphasis on creating a groundbreaking, highly engaging moment for Maker’s unveil,” said Kenny Taht. “In order to progress UAM, continuous education is needed and, with this experience, we’ve helped introduce travelers to this new reality.” 

Maker’s unveil is the latest example of Archer’s continued momentum, setting the stage for the next phase of engineering and flight testing. With backing from the United Airlines commercial order and the recently announced merger with Atlas Crest Investment Corporation (NYSE: ACIC), the company is valued at $3.8 billion, Archer is in an excellent financial position to continue on its accelerated timeline toward commercial launch in 2024. 

To experience the industry milestone, access the full recording here

About Archer
Archer’s mission is to advance the benefits of sustainable air mobility. Archer is creating the world’s first electric airline that moves people throughout the world’s cities in a quick, safe, sustainable, and cost-effective manner. As the world’s only vertically integrated airline company, Archer is designing, manufacturing, and operating a fully electric vertical takeoff and landing aircraft that can carry passengers for 60 miles at speeds of up to 150 mph while producing minimal noise. Archer’s team is based in Palo Alto, CA. To learn more, visit www.archer.com

For Media
Louise Bristow
Archer
C: 818 398 8091
louise.bristow@archer.com
archer@launchsquad.com

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Source: https://www.globenewswire.com/news-release/2021/06/11/2245616/0/en/Archer-Unveils-eVTOL-Aircraft.html

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Astro Aerospace to Complete eVTOL 1:2 Scale Prototype by Q1 2022 – Full-Sized eVTOL Vehicle Expected Q1 2024

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Dallas, June 10, 2021 (GLOBE NEWSWIRE) — Astro Aerospace (OTCQB: ASDN) (“Astro” or the “Company”), a developer of eVTOL aerial vehicles and drones, and Horizon Aircraft (“Horizon”), a developer of advanced hybrid electric Vertical Takeoff and Landing (eVTOL) aircraft, today announced the completion of their 1:6 scale eVTOL prototype testing program, culminating in hundreds of test flights over multiple aircraft. The Company is now shifting focus to production of their 1:2 scale prototype that is already under development and are targeting Q1 2022 to begin test flying. This milestone positions the Company to launch its next phase of scale prototype production, with Astro on schedule to complete its first full-sized aircraft by Q1 2024.

The primary objective for the 1:2 scale eVTOL prototype’s test flights will be to verify aerodynamics, control systems and transitional flight. Key amongst those systems is the Cavorite X5’s patented wing system that allows it to fly a portion of its route like a normal aircraft. This innovative vertical wing system rotates to reveal a series ducted fans allowing the aircraft to takeoff and land vertically. The wings close after upon minimum forward speed, maximizing the aircraft’s aerodynamic efficiency, safety, and operational flexibility.

The full-scale Cavorite X5, which is expected to travel up to an estimated 450 km/h with a 500-kilometre range, is designed for reduced hydrocarbon emissions, poor weather, traffic avoidance, and operational flexibility. The aircraft targets Urban Air Mobility in addition to long range, Regional Air Mobility sector which is an underserved by eVTOL competitors and one in which Astro expects the first revenue generating operations to occur. Additionally, with eVTOL capability combined with high forward speed the Cavorite X5 will be ideally suited for medevac, disaster relief, cargo delivery, and other special missions.

Astro’s existing Alta and Elroy programs, combined with Horizon’s newly added Cavorite X5 is expected to better position the Company to pursue its commercialization approach through a horizontally integrated product offering that span from short range pure electric Urban Air Mobility (UAM) to longer range hybrid electric Regional Air Mobility (RAM) missions.

About Astro Aerospace

Astro Aerospace is the developer of an advanced, autonomous, short haul, eVTOL (Electric Vertical Take-off and Landing) aerial vehicles. Our mission is to make self-flying unmanned and manned vehicles available to anyone, at any time, from anywhere, bringing a new and exciting aircraft into a mainstream mode of transportation. 

Our vision is “Flight Made Easy”. 

Visit www.flyastro.com for more information. 

About Horizon Aircraft Inc.

Horizon Aircraft is an advanced aerospace engineering company that has developed the world’s first eVTOL that can fly most of its mission in a configuration like a normal aircraft while offering industry-leading speed, range, and operational utility. Our unique designs place the mission first and prioritize safety, performance, and utility. Our Cavorite X5 eVTOL is designed to enter the market quickly and service a broad spectrum of early use-cases. 

Visit www.horizonaircraft.com for more information. 

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: the Company’s reliance on one key customer for a substantial percentage of its revenue; the Company’s ability to consummate any proposed financing, acquisition or transaction, the timing of the closing of such proposed event, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all, or that the closing of any proposed financing, acquisition or transaction will not occur or whether any such event will enhance shareholder value; the Company’s ability to continue as a going concern; the Company’s ability to attract, maintain and increase the number of its customers; the Company’s ability to maintain compliance with certain financial and other covenants; the Company successfully implementing its growth strategy; management’s relationships with industry stakeholders; the effects of the global Covid-19 pandemic; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of the Company’s subsidiaries; and other risks, uncertainties and factors. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contacts:

For Astro Aerospace

Investor Relations

TraDigital IR

Kevin McGrath

+1-646-418-7002

kevin@tradigitalir.com

 

 

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Source: https://www.globenewswire.com/news-release/2021/06/10/2245246/0/en/Astro-Aerospace-to-Complete-eVTOL-1-2-Scale-Prototype-by-Q1-2022-Full-Sized-eVTOL-Vehicle-Expected-Q1-2024.html

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Kratos Provides Ballistic and Airborne Targets for Formidable Shield 21 Campaign

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SAN DIEGO, June 10, 2021 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Space & Missile Defense Systems Business Unit, a part of Kratos’ Defense & Rocket Support Services Division supported the U.S. Navy’s Sixth Fleet, NATO’s Naval Striking and Support Forces (STRIKFORNATO) and the Maritime Theater Missile Defense Forum (MTMD-F) in the successful execution of Exercise At-Sea Demonstration/Formidable Shield 2021 at the U.K. Ministry of Defence’s Hebrides Range in Scotland. The Exercise included two Kratos medium range ballistic missile targets presented at the same time as the Kratos MQM-178 Firejet aerial target drones, from Kratos’ Unmanned Systems Division. The multi-national exercise featured 16 ships, several aircraft and approximately 3,300 personnel from 10 countries.

https://www.globenewswire.com/NewsRoom/AttachmentNg/e80ca60f-dbb3-4a53-a485-688ed880dc67

Successful ARAV-B launch sequence

Kratos has supported the biennial Formidable Shield Exercise since its inception in 2017, providing NATO forces the opportunity to improve interoperability in the integrated air and missile defense (IAMD) environment. This year’s exercise included ships from Belgium, Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, the United Kingdom, and the United States, participating in a range of live-fire and simulated missile engagements against aerial and ballistic missile targets.

Kratos, along with the Naval Surface Warfare Center Port Hueneme Division’s White Sands Detachment (NSWC PHD WSD), provided and launched two advanced ballistic missile targets for the exercise featuring Kratos’ Oriole Rocket System. The ballistic missile targets met all test objectives and were engaged by Standard Missile-3 (SM-3) interceptors on May 26 and May 30, 2021 off the USS Paul Ignatius (DDG 117). Data gathered during Exercise Formidable Shield 2021 will be used to refine the design and capabilities of subscale BMD targets for future exercises. These two launches surpassed the prior record held by Kratos and NSWC PHD WSD for the highest launch within the United Kingdom.

Dave Carter, President of the Kratos Defense & Rocket Support Services (KDRSS) Division, said, “Kratos is tremendously proud of its team of professionals who work diligently and passionately to make events like Formidable Shield a continual success for users around the world. Despite the challenges presented by the global pandemic, they have continued to deliver affordable, responsive and reliable targets to our Government customers and their allies.”

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

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Source: https://www.globenewswire.com/news-release/2021/06/10/2245171/224/en/Kratos-Provides-Ballistic-and-Airborne-Targets-for-Formidable-Shield-21-Campaign.html

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