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 United States, 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. 1

In the financial year ending 31 December 2014, HII generated revenues of US$ 7.0 billion (€ 5.7 billion), resulting in an operating income of US$ 655 million (€ 539 million) and a net income of US$ 338 million (€ 278 million). 2

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. 3 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). 4

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. 5

Investors

The following financial institutions have made approximately USD 8,229 million available to this producer since January 2012.

  • AJO (United States)
  • Allianz (Germany)
  • American Century Investments (United States)
  • American International Group (AIG) (United States)
  • American United Mutual Insurance (United States)
  • Ameriprise Financial (United States)
  • AQR Capital Management (United States)
  • AXA (France)
  • Bank of America (United States)
  • Bank of New York Mellon (United States)
  • BB&T (United States)
  • BlackRock (United States)
  • BMO Financial Group (Canada)
  • BPCE Group (France)
  • Capital One Financial (United States)
  • Charles Schwab Corporation (United States)
  • CI Financial (Canada)
  • Citigroup (United States)
  • Columbia Threadneedle Investments (United States)
  • Crédit Suisse (Switzerland)
  • D.E. Shaw & Co. (United States)
  • Deutsche Bank (Germany)
  • Dimensional Fund Advisors (United States)
  • Earnest Partners (United States)
  • Eaton Vance (United States)
  • Fidelity Investments (United States)
  • Fifth Third Bancorp (United States)

  • First Eagle Investment Management (United States)
  • Franklin Resources (United States)
  • Geode Capital Management (United States)
  • Goldman Sachs (United States)
  • Gotham Asset Management (United States)
  • Guggenheim Capital (United States)
  • Invesco (United States)
  • Jacobs Levy Equity Management (United States)
  • JPMorgan Chase (United States)
  • Lord, Abbett & Co (United States)
  • LSV Asset Management (United States)
  • Man Group (United Kingdom)
  • Manulife Financial (Canada)
  • MassMutual Financial (United States)
  • MetLife (United States)
  • Mitsubishi UFJ Financial (Japan)
  • Mizuho Financial (Japan)
  • Morgan Stanley (United States)
  • National Rural Electric Cooperative Association (United States)
  • Nationwide Mutual Insurance (United States)
  • New York Life Insurance Company (United States)
  • Northern Trust (United States)
  • Northwestern Mutual Life Insurance (United States)

  • Norwegian Government Pension Fund (Norway)
  • Old Mutual (United Kingdom)
  • Orix Corporation (Japan)
  • Pacific Century Group (China)
  • PNC Financial Services (United States)
  • Power Financial Corporation (Canada)
  • Prudential Financial (US) (United States)
  • Renaissance Technologies (United States)
  • Royal Bank of Scotland (United Kingdom)
  • Schroders (United Kingdom)
  • Scotiabank (Canada)
  • Siemens Financial Services (Germany)
  • State Street (United States)
  • State Teachers Retirement System of Ohio (United States)
  • Sumitomo Mitsui Financial (Japan)
  • Sun Life Financial (Canada)
  • SunTrust (United States)
  • Thrivent Financial (United States)
  • TIAA-CREF (United States)
  • Toronto-Dominion Bank (Canada)
  • Two Sigma Investments (United States)
  • UBS (Switzerland)
  • UMB Financial Corporation (United States)
  • Unum Group (United States)
  • US Bancorp (United States)
  • Vanguard (United States)
  • Wellington Management (United States)
  • Wells Fargo (United States)

This page was last updated 29 October 2015.

Notes

  1. Huntington Ingalls Industries, “Who we are”, Website Huntington Ingalls (www.huntingtoningalls.com/about/index), viewed May 2015.
  2. Huntington Ingalls Industries, “Annual Report 2014”, Huntington Ingalls Industries, February 2014.
  3. Huntington Ingalls Industries, “ Annual Report 2014”, Huntington Ingalls Industries, February 2014.
  4. Huntington Ingalls, “Annual Report 2014”, Huntington Ingalls, February 2015;
    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).
  5. Fluor, “USDOE Savannah River Nuclear Site Management & Operations”, Website Fluor (www.fluor.com/projects/savannah-river-nuclear-management-operations), viewed May 2015;
    SRNS, “Defense Programs”, Website Savannah River Nuclear Solutions (www.savannahrivernuclearsolutions.com/programs/def_prgms01.htm), viewed May 2015.

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.