MADISON, Wis., June 3, 2010 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) held a shipbuilding supplier event here today to discuss the current state of the shipbuilding industrial base. Addressing a gathering of over 60 people, representing many of the more than 200 shipbuilding suppliers from the Great Lakes region, Mike Petters, corporate vice president and president of Northrop Grumman Shipbuilding discussed the future of shipbuilding and the implications of the U.S. Navy's 30-year shipbuilding plan to the supplier base.
Petters' remarks are available at: http://www.sb.northropgrumman.com/about/presentations/index.html.
A photo accompanying this release is available at http://media.globenewswire.com/noc/mediagallery.html?pkgid=4602
"Our supplier community is critical to our success and in fact, about one third of our work to build these ships is done outside of our gates," said Petters. "Northrop Grumman Shipbuilding spends more than $2 billion annually for materials and services with the supply chain community. Of that, $57 million was spent in the state of Wisconsin in 2009 through partnerships with 85 different suppliers. And when we open the lens a little wider to look at the Great Lakes Region, Northrop Grumman spent $240 million with approximately 200 suppliers in Illinois and Wisconsin during the last four years. So you can see, just by the numbers alone, that our suppliers are a valuable member of the shipbuilding team and an important part of what we do to help our Navy to keep our country safe."
Also attending today's event were representatives from the Madison Council of the U.S. Navy League, representatives from the offices of Congressman Tom Petri, and Congressman Steven Kagen, and a representative from the office of U.S. Senator Herb Kohl.
"It's our job to build the ships the Navy determines it needs to fulfill its missions in the most cost-efficient manner, meeting schedule commitments and incorporating high quality," said Petters. "Our supplier community ranges from small mom and pop businesses to large enterprises. Yet each has one thing in common – we participate in building America's fleet."
Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.
