HII and Kinder Morgan nix Avondale redevelopment JV

Huntington Ingalls Industries (NYSE: HII) has completed discussions with Kinder Morgan Inc. (NYSE: KMI) to explore the redevelopment of HII's Avondale shipyard in Louisiana, and the companies have mutually decided not to move forward with a joint venture. Since April 2014, HII and Kinder Morgan have evaluated best-use opportunities for the facility.

HII will continue to assess all alternatives for future use of the facility, which will include selling the property, and will continue to work closely with the State of Louisiana and Louisiana Economic Development.

HII is a military shipbuilding company and a provider of manufacturing, engineering, and management services to the commercial and non-commercial energy, oil, and gas markets.

 

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