HII, Kinder Morgan Not to Pursue Avondale Joint Venture

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

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