At the end of 19, shipbuilding became an important industry in southern States. Newport news Shipyard in Virginia has become not only the largest shipyard in the United States, but also the largest shipyard in the world. Huntington Denklis, the sports spirit in enterprise sports, recognized the special advantages provided by the situation and made most of them have the characteristics of energy and determination. But it was not until 1890 that big shipyards and dock companies established and controlled the construction of ships; But before that, the first decade has passed, and 32 ships have been delivered, most of which were completed by companies or individuals, but this figure also includes the national government of three gunboats and three first-class warships. The new dry dock completed in 1902 is 30 feet deep, 162 wide and 827 long.
Newport news Shipyard Company, registered in Delaware, started its independent operation on February 12, 1996. Previously, on 65438+February 1 1 and 1996, Tenneco[ the original parent company of the company] and its subsidiaries completed various separate actions to transfer the existing business, making the shipbuilding enterprise an independent company. Tenneco was then distributed to all newport news shipyards, which issued common shares and held Tenneco's common shares in proportion.
Aircraft carrier and submarine construction contracts with the US Navy have brought revenue to most companies. Overall, the US Navy business accounts for about 94%, and 94% and 97% of the company's revenues are 1997, 1996 and 1995 respectively. Newport news has built 9 12 active aircraft carriers in the US fleet, including all 8 nuclear-powered aircraft carriers. In the past 36 years, newport news was the sole designer and builder of the US Navy aircraft carrier.
The company is currently the only non-state-owned shipyard engaged in refueling nuclear-powered aircraft carriers. The job assignment of aircraft carriers is generally based on the job type, location and cost of the US Navy. The company completed the overhaul of Eisenhower at the beginning of 1997. At the end of 1997, the overhaul and repair work in uss enterprise has been completed, and in the third quarter of 1998, the aircraft carrier theodore roosevelt will complete similar work. The company has also completed the "backswing efficiency" of the operators and submarines after the maintenance of the original US Navy transport ship.
At the beginning of 1997, the company completed its comprehensive refueling fund ("GM") at a cost of about USD 20 million. Support GM's offshore refueling project by integrating the refueling business of different facilities in the whole company 13. In the field of chronic renal failure, it is a complex component with a production, storage and training area of 58,000 square feet. At the end of 1997, the company also started planning to build a radiation support fund of 26 million US dollars ("June 4th"). Planned to be completed in 2000, Reporters Without Borders will transfer its radioactive support activities from the 23-point shipyard to a single facility.
Newport news is also a nuclear-powered submarine of two American manufacturers. The company has built 53 nuclear-powered submarines, including 39 attack submarines and 14 large fleet ballistic missile submarines. The last time newport news delivered the L.A. class submarine was in August 15, 1996.
After urging the US Navy, newport news and the electric ship reached an agreement in February 1997 to jointly build the No.4 new nuclear attack submarine ("NSSNs"). The team cooperation agreement requires each company to build certain parts, each submarine, and finally assemble, test, assemble and deliver two yards in turn. According to the agreement, the electric boat will be the main contractor and chief designer.
Newport news expanded its overhaul work at 1994 according to the contract for the first overhaul of the guided missile destroyer USS Thorne. Since then, the company has completed a series of destroyer maintenance. 1997 in the first quarter, the company completed the first overhaul of the Aegis-class aircraft carrier Monterey.
The company also completed the complex modification of the second container ship for roll call, and introduced heavy armored vehicles for maritime transportation for the US Navy. /kloc-0 delivered the first ship in August 1996, and/kloc-0 delivered the second ship in May 1997. The company was launched in the early 1990s as part of its strategy to increase its core US Navy business. It promotes products and services on order to serve commercial customers.
The company's main factory is located in newport news, Virginia, and is owned by James River Mouth Company on about 550 acres. Its facilities include seven carving docks, floating docks, two outfitting berths, five outfitting docks, a modular outfitting equipment, and various other shops. Dry dock 12 is the largest in the western hemisphere, and has recently been expanded to 662 meters. The capacity of 900-ton gantry crane served by dry dock 12 spans dry dock and working platform.
1997 65438+In February, newport news completed the acquisition of Continental Shipping Co., Ltd. ("Comité Maritime International" for short), which is engaged in repairing the US Navy's fleet on the west coast of San Diego, California. The acquisition is a key part of the company's long-term strategy to expand basic services to the navy.
At the end of 1997, the company had about 18400 employees, of whom about 55% had collective negotiations with the trade union.
On June 22nd,1999,65438+newport news Shipyard and Avandel Industries notified the anti-monopoly department of the Ministry of Justice of the merger proposal. The deal was not completed later.
On April 25th, 20001year, newport news announced that he agreed to buy cash from General Dynamics instead of looking for other companies with Northrop Grumman. Although newport news pointed out that the nuclear "monopoly" has existed for a long time, because the navy approved the "joining hands" with General Dynamics (the only competitor with nuclear capability) in modern history, many people believe that the United States is maintaining, rather than eliminating, competition with national security values.
Northrop Grumman Company announced that on May 9th, 20001,it proposed to buy newport news Shipyard, because it was worried that the previously announced merger agreement between newport news and General Dynamics would establish an unhealthy monopoly, which was unacceptable and would consolidate the American shipbuilding industry. Northrop Grumman's board of directors has authorized management to meet General Dynamics newport news's offer of $67.50 per share for all common shares outstanding.
In the letter, William P. Fricks, Chairman and CEO of Newport News Company (see attachment) and Kent Kresa, Chairman, President and CEO of Northrop Grumman Company, said that he believed that "the merger of Newport News Company and Northrop Grumman Company (which recently purchased the shipbuilding industry) will provide various strategic benefits, including substantial cost savings and the opportunity for US Navy employees to become part of a larger and more diversified company. In contrast, with the quotation from General Dynamics, the product portfolio of Northrop Grumman and newport news will never overlap, which provides an opportunity to improve efficiency. The merger of our two companies will maintain the current military shipbuilding industry. Competitive pattern. "
Kresa also said that "the proposed transaction with General Dynamics has caused serious antitrust problems" and that if it is approved, "submarines and ships with only one nuclear capability will be built far away from fragile countries." Kresa also quoted 65,438+0,999 US Department of Defense's analysis, which showed that "more than 75% of shipyard engineers and technicians and 95% of naval R&D investment will exist in the merger of General Dynamics, an entity in newport news." Mr Kresa said, "This analysis has not changed anything. This will be an unacceptable position for the US government, the Navy and Northrop Grumman. "
65438+200 1 year1October 23rd, the U.S. Department of Defense concluded that welfare and people's savings provided Northrop Grumman with a relatively economical proposal to acquire newport news. The General Dynamics/newport news merger and the Northrop Grumman deal remained competitive. On this day, the US Department of Justice announced that it had filed a lawsuit to prevent General Dynamics from bidding for newport news. 200112 Northrop said that it was informed that the Ministry of Justice had closed the previously announced proposal of the company it was investigating to acquire newport news Shipyard, thus enabling the company to make the acquisition.
On June 6th, 200 1 year1/kloc-0, Northrop revised all the common shares it provided, including the relevant rights of newport news Shipyard. 200 1, 1654381On October 8th, Northrop announced the signing of a final agreement with newport news Shipyard, which stipulated that Northrop Grumman would acquire newport news Shipyard. Shareholders of newport news Shipyard can choose to accept $67.50 in cash or Northrop Grumman's common stock to provide a value of $67.50. The acquisition is worth about $2.6 billion, including the debt of newport news Shipyard, which bears about $500 million.
Thereafter, after the transaction is completed, newport news will initially be a division of Northrop Grumman. In the long run, Northrop Grumman plans to merge its two shipbuilding enterprises into one business unit.