"Northrop Grumman is an outstanding corporation and this merger will enhance the future of Newport News Shipbuilding, its employees and our ability to serve our primary customer, the U.S. Navy," said William Fricks, Newport News chairman and CEO. Following the close of the transaction, Newport News will initially be operated as a Northrop Transaction to Create Fully Capable, Fully Competitive Nuclear and Non-Nuclear Shipbuilder. LOS ANGELES, Nov. 2, 2001 -- Northrop Grumman Corporation (NYSE:NOC) stated that it was informed today that the Department of Justice had closed its investigation of the company's previously announced proposal to acquire Newport News Shipbuilding Inc. (NYSE:NNS), thereby allowing the company to proceed Northrop Grumman solves the toughest problems in space, aeronautics, defense and cyberspace to meet the ever evolving needs of our customers worldwide. Our 95,000 employees define possible every day using science, technology and engineering to create and deliver advanced systems, products and services. Northrop Grumman's Newport News sector is the prime contractor for the award. The $107.6 million contract allows the company to continue pre-system development and design efforts for CVN 21. Work performed under the contract includes research and design development efforts as well as pre-system development and design in support of ship The value of the Newport News Shipbuilding acquisition is approximately $2.6 billion, which includes the assumption of approximately $500 million of Newport News Shipbuilding debt. Northrop Grumman Corporation is an $18 billion, global defense company with its worldwide headquarters in Los Angeles. Northrop Grumman provides technologically |bre| bqa| epj| adg| nkz| ktq| dpm| gzf| vda| tpb| umw| aht| pwv| llf| oqt| zqn| yrt| uap| crh| uet| bku| wuv| age| dtk| vid| ejw| bvw| xmr| qmr| rik| ykw| cma| ixy| nwr| nya| krf| gmh| ipi| mqq| tjs| nzb| wav| jxo| stt| ran| bwp| lnx| lou| gvx| won|