Huntington Ingalls Industries

Huntington Ingalls Industries (United States) is involved in management of the US nuclear arsenal, and in tritium production at the Savannah River Site, the only source of new tritium for the US nuclear arsenal.

Company profile

Huntington Ingalls Industries (“HII”), based in the US, designs, constructs and maintains nuclear and non-nuclear ships for the US Navy and Coast Guard and offers after-market services for military ships around the world.[a]

In the financial year ending 31 December 2015, HII generated revenues of US$ 7.0 billion (€ 6.4 billion), resulting in an operating income of US$ 769.0 million (€ 703.8 million) and a net income of US$ 404.0 million (€ 369.7 million).[b]

Contact Information

Website: www.huntingtoningalls.com
Twitter: @hiindustries
Facebook: www.facebook.com/HuntingtonIngallsIndustries

Huntington Ingalls Industries Communications
4101 Washington Ave.
Newport News, VA 23607
+1.757.380.2000

Nuclear weapons

 

Huntington Ingalls Industries subsidiary Newport News Nuclear is co-owner of Savannah River Nuclear Solutions (SRNS), with lead partner Fluor and Honeywell. HII has a 34% ownership interest in SRNS.[i] Since 2008, SRNS is responsible for the management and operation of the Department of Energy’s Savannah River Site and Savannah River National Laboratory in South Carolina under a US$ 4 billion (€ 2.7 billion) five-year contract. The Department of Energy prolonged the contract in September 2012 to September 2016. The extension brings the total value of the SRNS contract to approximately US$ 8 billion (€ 5.4 billion).[ii]

SRNS is responsible for site management and operation, environmental management, management of the nuclear arsenal, the removal of excess nuclear materials, and environmental services. The Tritium Extraction Facility at the Savannah River Site is the only source of new tritium for the US nuclear stock. Tritium, a radioactive form of hydrogen (also called “super heavy water”), is essential for the continued operation of the US nuclear arsenal.[iii]

Investors

The following financial institutions have made approximately US$ 8,532 million available to this producer since January 2013.

  • Affiliated Managers Group
  • AJO
  • Allianz
  • American Century Investments
  • American International Group (AIG)
  • Ameriprise Financial
  • Analytic Investors
  • AQR Capital Management
  • Bank of America
  • Bank of New York Mellon
  • BB&T
  • BlackRock
  • BMO Financial Group
  • BPCE Group
  • Capital One Financial
  • Charles Schwab
  • Chubb
  • CI Financial
  • Citigroup
  • Credit Suisse
  • D.E. Shaw & Co.
  • Dimensional Fund Advisors
  • Federated Investors
  • Fidelity Investments

  • Fifth Third Bancorp
  • Franklin Resources
  • Geode Capital Management
  • Goldman Sachs
  • Gotham Asset Management
  • Invesco
  • JPMorgan Chase
  • Loop Capital
  • Lord, Abbett & Co
  • LSV Asset Management
  • Man Group
  • Manulife Financial
  • Mitsubishi UFJ Financial
  • Mizuho Financial
  • Morgan Stanley
  • National Rural Electric Cooperative Association
  • Nationwide Mutual Insurance
  • Northern Trust
  • Northwestern Mutual Life Insurance
  • Norwegian Government Pension Fund – Global
  • Old Republic International
  • Orix Corporation

  • PNC Financial Services
  • Power Financial Corporation
  • Prudential (UK)
  • Prudential Financial (US)
  • Renaissance Technologies
  • Royal Bank of Scotland
  • Schroders
  • Scotiabank
  • Siemens Financial Services
  • Smith Asset Management Group
  • State Street
  • State Teachers Retirement System of Ohio
  • Sumitomo Mitsui Financial
  • SunTrust
  • Thrivent Financial
  • TIAA-CREF
  • Toronto-Dominion Bank
  • US Bancorp
  • Vanguard
  • Wells Fargo
  • Westwood Holdings Group

This page was last updated 29 November 2016.

Notes

[a]       Huntington Ingalls Industries, “Who we are”, Website Huntington Ingalls (www.huntingtoningalls.com/about/index), viewed June 2016.

[b]      Huntington Ingalls Industries, “Annual Report 2015”, Huntington Ingalls Industries, February 2016.

[i]       Huntington Ingalls Industries, “Annual Report 2015”, Huntington Ingalls Industries, February 2016.

[ii]      Huntington Ingalls, “Annual Report 2015”, Huntington Ingalls, February 2016;
US Department of Energy, “DOE to Extend Savannah River Nuclear Solutions Contract at Savannah River Site to September 2016”, US Department of Energy, 6 September 2012 (energy.gov/em/articles/doe-extend-savannah-river-nuclear-solutions-contract-savannah-river).

[iii]      Fluor, “USDOE Savannah River Nuclear Site Management & Operations”, Website Fluor (www.fluor.com/projects/savannah-river-nuclear-management-operations), viewed June 2016;
SRNS, “Defense Programs”, Website Savannah River Nuclear Solutions (www.savannahrivernuclearsolutions.com/programs/def_prgms01.htm), viewed June 2016.

Producers

In some nuclear-armed states – in particular the United States, the United Kingdom and France – private companies are hired by governments to carry out work on maintaining and modernising nuclear arsenals. This report looks at companies that are providing the necessary components to develop, test, maintain and modernise nuclear weapons.The contracts these companies have with nuclear armed countries are for materials and services to keep nuclear weapons in their arsenals. The companies described are substantially involved in the nuclear weapons programmes of the United States, the United Kingdom, France, or India and are themselves based in France, India, Italy, the Netherlands, the United Kingdom and the United States.

In other nuclear-armed countries –Russia, China, Pakistan and North Korea – the maintenance and modernization of nuclear forces is carried out primarily or exclusively by government agencies.

Methodology

The nuclear weapon producers identified were selected on the basis of a predetermined set of criteria.
– Information on investments is publicly available.
– The company is directly involved in the development, testing, production, maintenance or trade of nuclear weapons related technology, parts, products or services.
– The company’s involvement is related to warheads, or to delivery systems such as missiles, that are specifically developed for nuclear tasks. This includes technology that is designed for ‘dual use’ (military and civilian) but excludes technology that is not designed for, but can be used in nuclear warfare. It does not include delivery platforms such as bombers and submarines.

State owned or controlled nuclear industries are outside the scope of this research, as are companies not publicly listed. Our research uncovered a number of Universities involved in nuclear weapons programmes, but these are also outside the scope of the report.

The list of nuclear weapon producers investigated was compiled through a wide variety of sources, including financial institution exclusion lists, civil society reports, media reports, etc. Additional details on the contracts and components can be found in the Annex. We welcome information at any time about possible nuclear weapons producing companies to investigate.