News Summary
HII will acquire W International’s assets to enhance its submarine construction capabilities in Charleston, SC. The acquisition aims to improve production rates and retain current employees, contributing to the submarine industrial base growth as HII prepares for future naval demands.
Exciting Developments in Charleston as HII Plans to Acquire W International
Charleston, SC – Big news is on the horizon for the shipbuilding industry as HII, a leading Navy shipbuilder, has announced plans to acquire substantially all of the assets of W International, a South Carolina-based metal fabricator. This acquisition is set to turbocharge the submarine construction capabilities of HII, gearing up for a promising future starting next year.
What Does This Mean for Submarine Construction?
The deal is expected to close in the fourth quarter of 2024, but it will still need the green light from regulatory bodies. While the specific financial details of this acquisition remain under wraps, the implications for HII and the Navy are far-reaching. This new venture aims to enhance production rates and manufacturing capabilities essential for building submarines, a crucial part of the Navy’s operational fleet.
An Impressive New Facility
HII is looking to make an enormous impact with the new facility located in Charleston. Spanning an impressive 480,000 square feet of manufacturing space on a 45-acre site, this facility will not only focus on submarine module construction but also have the potential to delve into aircraft carrier unit builds. The site’s accessibility to barge and rail lines ensures smooth module transport, making it a prime asset for HII’s operations.
Pledging to Keep Current Employees
As part of this transition, HII plans to offer employment to substantially all of W International’s current employees, which is a great way to maintain the workforce’s expertise and stability during the acquisition process. The focus on retaining talent shows HII’s commitment not just to growth in production but also to the local community and job market.
Strengthening the Submarine Industrial Base
This acquisition ties into broader industry efforts to bolster the submarine industrial base, with the Navy estimating a goal of adding around 140,000 shipyard workers within the next decade. This initiative is critical as the demand for modern submarines continues to rise in response to global naval needs.
Collaborative Efforts with BlueForge Alliance
In addition to the acquisition, the Navy has been working alongside the BlueForge Alliance, a Texas-based non-profit, to recruit more shipyard workers and expand the overall workforce. This collaboration promises to bolster the defense manufacturing landscape, preparing the Navy to meet future challenges head-on.
Aligning with AUKUS Partnership
HII is also playing a pivotal role in supporting the Navy and the AUKUS partnership, which underscores a focus on enhancing defense manufacturing and submarine capabilities. This strategic alignment reflects a commitment to not only strengthen national security but also ensure that the U.S. remains competitive on a global stage.
What’s Next?
As HII gears up for this acquisition and the expansion of its submarine construction efforts, all eyes are on Charleston. With plans to ramp up production, hire local talent, and modernize facilities, this move symbolizes a significant moment in the shipbuilding industry, promising growth and new opportunities for the entire region.
Stay tuned as we follow the developments surrounding this exciting acquisition and see how it shapes the future of submarine construction and naval defense!
Deeper Dive: News & Info About This Topic
- Breaking Defense
- Google Search: submarine construction
- Post and Courier
- Google Scholar: HII acquisition W International
- Business Wire
- Encyclopedia Britannica: submarine manufacturing
- Simple Flying
- Google News: defense contractor news
