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...About 10 miles south of the long line of aircraft carriers along Newport News Shipbuilding’s piers sits another flat-topped US warship....
...That had “major application” for General Dynamics and Huntington Ingalls, two of the biggest operators of naval shipyards, Mr McAleese said....
...This follows two other separations of lower-value divisions by Northrop Grumman (it spun off Huntington Ingalls) and L-3 (Engility)....
...In 2011, it spun off its shipbuilding division as Huntington Ingalls Industries and the company said it had also cut back on volumes in its underperforming and non-core units....
...The 188-year-old company has evolved from an industrial conglomerate with roots in ironwork and shipbuilding into a producer of wireless and electronic products for customers that include Cisco, General...
...Northrop Grumman, the US defence contractor, moved a step closer on Tuesday to spinning off its shipbuilding unit after the board approved the transaction and set a deadline of the end of the month to complete...
...The divestments will leave L-3 with revenues of about $13.5bn and four main divisions, providing aircraft modernization and maintenance, electronic systems, intelligence and surveillance systems, and cyber...
...planes and electronic systems....
...Analysts were also concerned that a sharp fall in ship orders would have an impact on Rolls’ marine systems division, which accounts for about a quarter of group revenues....
...Since then, the company has said it will sell or spin off its shipbuilding division....
...Boeing, one of the US’s largest defence contractors, this week announced it would shed jobs, in a major restructuring of its military aircraft division....
...Levin has accused Washington Mutual, which was sold to JPMorgan Chase in 2008, of building a “conveyor belt that fed those toxic loans into the financial system like a polluter dumping poison into a river...
...While its revenues for the quarter were largely unchanged at just under $7.9bn, its net income rose to $331m from $272m thanks largely to improved performance in its fast-growing integrated systems division...
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