HII Recognizes Australian Firms at Sea Air Space 2025, Advancing AUKUS Industrial Integration and Submarine Supply Chain Access
The supplier development initiatives include state-led Supplier Capability Uplift Programs, which will feed into the new Australian Submarine Supplier Qualification (AUSSQ) program, announced by Deputy Prime Minister Richard Marles on March 6, 2025.
Eric Chewning, executive vice president of strategy & development for HII; Cullen Glass, vice president of supply chain management for HII's Newport News Shipbuilding; and Michael Lempke, president of the global security group at HII's Mission Technologies division, presented certificates to:
Century Engineering (South Australia)
MacTaggart Scott Australia (South Australia)
Hofmann Engineering (Western Australia)
Levett Engineering (South Australia)
VEEM Ltd. (Western Australia)Photos accompanying this release are available at: http://hii.com/news/hii-recognizes-australian-firms-at-sea-air-space-2025-advancing-aukus-industrial-integration-and-submarine-supply-chain-access/.
The supplier identification number signifies that, upon full certification through the AUSSQ process, these companies are qualified to participate in the NNS supply chain in support of nuclear-powered submarine construction.
Also in attendance were Rear Adm. Ian Murray, Australian Defence attaché; Linda Dawson, deputy director general for industry, science and innovation, Western Australian Government; and Sir Nick Hine, executive director of H&B Defence and former second sea lord of the Royal Navy.
This milestone reflects deepening industrial integration under the AUKUS trilateral security partnership between Australia, the United Kingdom and the United States. HII's work, under contract with the Australian Government, supports the development of sovereign industrial capabilities and enables Australian companies to enter U.S. defense supply chains.
About HII
HII is a global, all-domain defense provider. HII's mission is to deliver the world's most powerful ships and all-domain solutions in service of the nation, creating the advantage for our customers to protect peace and freedom around the world.
As the nation's largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training. Headquartered in Virginia, HII's workforce is 44,000 strong. For more information, visit:
HII on the web: https://www.HII.com/
HII on LinkedIn: https://www.linkedin.com/company/wearehii
HII on Facebook: https://www.facebook.com/TeamHII
HII on X: https://www.twitter.com/WeAreHII
HII on Instagram: https://www.instagram.com/WeAreHII
Contact:Greg McCarthy(202) 264-7126gregory.j.mccarthy@hii-co.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ccadc069-4d1e-4467-b55e-47897d6745e9Sign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
3 hours ago
- Business Wire
Tamboran Appoints Board Chairman Dick Stoneburner as Interim CEO
NEW YORK--(BUSINESS WIRE)--Tamboran Resources Corporation (NYSE: TBN, ASX: TBN): Tamboran Resources Corporation Chairman, Dick Stoneburner, said: 'Tamboran remains committed to completing the tie-in of the five wells on the Shenandoah South 2 pad that are planned to deliver gas into the Sturt Plateau Compression Facility (SPCF) and feed into the 40 MMcf/d Gas Sales Agreement with the Northern Territory Government. We remain focused on unlocking the significant value that we believe the development of the Beetaloo Basin will realize for shareholders and the stakeholders of the Northern Territory. 'Since joining Tamboran as CEO in 2013, Mr. Riddle has overseen the Company's transformation from early-stage natural gas exploration to the brink of commercial production. Under his leadership, Tamboran has pioneered integrated development strategies that combine recognized U.S. shale techniques with Australian operations, driving significant productivity and efficiency gains. 'Additionally, under Joel's leadership, Tamboran successfully acquired and expanded its key assets and operations, resulting in the Company becoming the largest acreage holder and operator in the Beetaloo Basin in the Northern Territory of Australia, with approximately 1.9 million net prospective acres. 'On behalf of the Board, I thank Joel for his dedicated service to Tamboran over the last 12 years and John for his valuable membership on our Board.' Tamboran Resources Corporation Chair of the Nomination and Corporate Governance Committee, Fred Barrett, commented: 'We are also pleased to welcome two deeply experienced executives, Scott and Phillip, to our Board of Directors. They each bring extensive leadership, operational, financial, capital raising, strategic partnering and risk management expertise to Tamboran. 'Their perspectives will be invaluable as we continue to prioritize strategic execution and operational innovation to capitalize on the enormous potential of the Beetaloo Basin. With the appointments of Scott and Phillip, the Board has meaningfully deepened its expertise in large-scale shale development.' The complete cooperation agreement with Sheffield Holdings will be filed on a Current Report on Form 8-K with the U.S. Securities and Exchange Commission. This announcement was approved and authorised for release by Dick Stoneburner, the Chairman of Tamboran Resources Corporation. About Tamboran Resources Corporation Tamboran Resources Corporation ('Tamboran' or the 'Company'), through its subsidiaries, is the largest acreage holder and operator with approximately 1.9 million net prospective acres in the Beetaloo Sub-basin within the Greater McArthur Basin in the Northern Territory of Australia. Tamboran's key assets include a 47.5% operating interest over 20,309 acres in the proposed northern Pilot Area, a 38.75% non-operating interest over 20,309 acres in the proposed southern Pilot Area, a 58.13% operating interest in the proposed Phase 2 development area covering 406,693 acres, a 67.83% operated interest over 219,030 acres in a proposed Retention License 10, a 77.5% operating interest across 1,487,418 acres over ex-EPs 76, 98 and 117, a 100% working interest and operatorship in EP 136 and a 25% non-operated working interest in EP 161, which are all located in the Beetaloo Basin. The Company has also secured ~420 acres (170 hectares) of land at the Middle Arm Sustainable Development Precinct in Darwin, the location of Tamboran's proposed NTLNG project. Pre-FEED activities are being undertaken by Bechtel Corporation. Note on Forward-Looking Statements This press release contains 'forward-looking' statements related to the Company within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words 'believe,' 'expect,' 'anticipate,' 'will,' 'could,' 'would,' 'should,' 'may,' 'plan,' 'estimate,' 'intend,' 'predict,' 'potential,' 'continue,' 'participate,' 'progress,' 'conduct' and the negatives of these words and other similar expressions generally identify forward-looking statements. It is possible that the Company's future financial performance may differ from expectations due to a variety of factors, including but not limited to: our early stage of development with no material revenue expected until 2026 and our limited operating history; the substantial additional capital required for our business plan, which we may be unable to raise on acceptable terms; our strategy to deliver natural gas to the Australian East Coast and select Asian markets being contingent upon constructing additional pipeline capacity, which may not be secured; the absence of proved reserves and the risk that our drilling may not yield natural gas in commercial quantities or quality; the speculative nature of drilling activities, which involve significant costs and may not result in discoveries or additions to our future production or reserves; the challenges associated with importing U.S. practices and technology to the Northern Territory, which could affect our operations and growth due to limited local experience; the critical need for timely access to appropriate equipment and infrastructure, which may impact our market access and business plan execution; the operational complexities and inherent risks of drilling, completions, workover, and hydraulic fracturing operations that could adversely affect our business; the volatility of natural gas prices and its potential adverse effect on our financial condition and operations; the risks of construction delays, cost overruns, and negative effects on our financial and operational performance associated with midstream projects; the potential fundamental impact on our business if our assessments of the Beetaloo are materially inaccurate; the concentration of all our assets and operations in the Beetaloo, making us susceptible to region-specific risks; the substantial doubt raised by our recurring operational losses, negative cash flows, and cumulative net losses about our ability to continue as a going concern; complex laws and regulations that could affect our operational costs and feasibility or lead to significant liabilities; community opposition that could result in costly delays and impede our ability to obtain necessary government approvals; exploration and development activities in the Beetaloo that may lead to legal disputes, operational disruptions, and reputational damage due to native title and heritage issues; the requirement to produce natural gas on a Scope 1 net zero basis upon commencement of commercial production, with internal goals for operational net zero, which may increase our production costs; the increased attention to environmental, social and governance matters and environmental conservation measures that could adversely impact our business operations; risks related to our corporate structure; risks related to our common stock and CDIs; and the other risk factors described more fully in the Company's Annual Report on Form 10-K, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this release are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document, except as otherwise required by law. Annexure A About Scott Sheffield Mr. Sheffield has more than 50 years of experience in the energy industry, including building a company into a top tier exploration and production company that was acquired by Exxon Mobil Corporation in a transaction that closed in May 2024. From 2019 until December 31, 2023, he served as a Director and Chief Executive Officer of Pioneer Natural Resources Company ('Pioneer'), a large publicly traded domestic upstream oil and gas company. He retired on December 31, 2023, as CEO and remained as a director until May 2024. Mr. Sheffield served as the founding Chief Executive Officer of Pioneer from August 1997 until his retirement in December 2016, and he also served as Board Chair from 1999 until 2019 when he returned as the CEO. Mr. Sheffield was the CEO of Parker and Parsley Petroleum Company, a predecessor company of Pioneer, from 1985 until it merged with MESA, Inc. to form Pioneer in 1997. Mr. Sheffield joined Parker and Parsley as a petroleum engineer in 1979, was promoted to Vice President of Engineering in 1981, was elected President and a Director in 1985, and became Board Chair and Chief Executive Officer in 1989. Mr. Sheffield served as a Director of Santos Limited, an Australian exploration and production company, from 2014 to 2017. He previously served as a Director from 1996 to 2004 on the Board of Evergreen Resources, Inc., an independent natural gas energy company. Mr. Sheffield holds a Bachelor of Science in Petroleum Engineering from the University of Texas. He has also served on various industry and education-related boards, including the National Petroleum Council, America's Natural Gas Alliance, and the Maguire Energy Institute of the Southern Methodist University Cox School of Business. Mr. Sheffield is also a 2013 inductee to the Permian Basin Petroleum Museum Hall of Fame. About Phillip Pace Phillip Pace has more than 30 years of energy industry experience. From 2017 to 2020 he served as a Director of Lonestar Resources US Inc., a then-publicly traded exploration and production company. From 2009 until his retirement in 2020, Mr. Pace was Founding Partner and Managing Director of Chambers Energy Management, a Houston-based investment firm focused on opportunistic credit investments in the energy industry. He also has extensive experience in energy finance, including 19 years in oil and gas equity research. Following his equity research career, Mr. Pace became Credit Suisse's Head of Exploration and Production Investment Banking in 2005 and Co-Head of Energy Investment Banking in 2006. During his career on Wall Street, Mr. Pace was involved in over $50 billion in completed M&A transactions and over $10 billion in equity capital raised for the exploration and production sector in more than 50 distinct transactions. Mr. Pace holds a Bachelor of Business Administration degree in Finance, with honors, from Texas A&M University and is a Chartered Financial Analyst. He serves on multiple education-related and non-profit boards, including the Yellowstone Academy and Angel Reach.
Yahoo
14 hours ago
- Yahoo
Germany unlikely to fall foul of EU deficit rules, official tells FT
VIENNA (Reuters) -The European Commission will probably not impose a so-called excessive deficit procedure on Germany for breaching the EU's budget deficit cap this year, Economic Commissioner Valdis Dombrovskis told the Financial Times. Germany's new conservative-led coalition government has said it does not expect a planned spending spree, including on defence, to be found in breach of European Union rules that cap budget deficits at 3% of gross domestic product. Berlin's budget deficit is expected to come in at 3.3% of GDP this year, but since defence spending fully accounts for the amount over 3%, Germany "is likely not to end up in (the) excessive deficit procedure", Dombrovskis was quoted as saying in the FT interview published on Sunday. An excessive deficit procedure involves the Commission and EU finance ministers setting a corrective course to bring a member state's deficit back within the 3% limit. A country's failure to do so can in principle eventually lead to a fine. "We have to see the execution, because it's close (but) if everything holds, then it should not be the case for this year's budget," Dombrovskis said, adding that a final assessment would take place in the spring when data for 2025 is available. Under the EU's new fiscal rules, which the previous, more fiscally conservative German government helped negotiate, member states can exclude some defence spending from their deficits.
The Hill
17 hours ago
- The Hill
Trump team's ‘pocket rescission' idea runs into GOP opposition
Some Republicans in Congress are uneasy about the possibility the Trump administration will use a 'pocket rescission' to claw back already approved government funding as fears of a fall shutdown rise. The Trump administration has already clawed back funds through the use of a rescissions package that passed both chambers of Congress, and some GOP lawmakers are concerned about having to vote on a second, possibly politically tougher, package of cuts. But these lawmakers say the use of pocket rescissions, an idea floated by the White House's budget chief that could yank back money without input from lawmakers, could create bad feelings not only with Democrats, but also with Republicans. 'Pocket rescissions, I think, are unconstitutional,' said Rep. Mike Simpson (R-Idaho), a spending cardinal, this week. 'So, just like impoundment, I think, is unconstitutional.' 'So we'll see how it goes,' he said. Office of Management and Budget Director Russell Vought referred to pocket rescissions as 'one of the executive tools' that are 'on the table' earlier this month, as the administration continues a sweeping operation aimed at reducing federal spending. 'The president was elected to get us to balance, to deal with our fiscal situation, and we're going to use all of the tools that are there depending on the situation, and as we move through the year,' he said at an event. However, he also noted then that the administration hasn't yet 'made a determination to use it in part because we're making progress during the normal course of business with Congress.' Trump became the first president in decades to successfully claw back funds through the special rescissions process, with the GOP-led Congress agreeing to pull back about $9 billion in previously allocated funding for foreign aid and public broadcasting. The Impoundment Control Act (ICA) lays out rules governing that process and allows the administration to temporarily withhold funding for 45 days while Congress considers the request. If Congress opts not to approve the request in the timeframe, the funds must be released. Under a pocket rescission, however, experts say the president would send the same type of request to Congress, but do so within 45 days of the end of the fiscal year on Sept. 30. The targeted funds could then essentially be held until the clock runs out and they expire. Vought has described the tactic as 'no different than a normal rescission, except for the timing of when it occurs.' 'A pocket rescission occurs later in the end of the fiscal year, within 45 days of the time that you have to hold the funding, and then the money evaporates at the end of the fiscal year,' he said. But some budget experts have strongly pushed back on the budget chief's characterization, arguing the tactic is 'illegal' and undermines the intent of the ICA. The Government Accountability Office also said during Trump's first presidential term that the law does not allow 'the withholding of funds through their date of expiration.' 'It is a method through which [Vought] would get to impound funds against congressional intent,' said Bobby Kogan, a former Senate budget aide and senior director of federal budget policy at the left-leaning Center for American Progress, in a recent interview. 'Pocket rescission says, 'Well, what if I send up a request 45 days before the end of the fiscal year, then even if Congress says no, I can still end all funding for the rest of the year, right?'' he argued. 'Like that's the concept behind a pocket rescission. Profoundly illegal because it would allow you to impound funds without congressional approval, which is illegal.' At the same time, other experts have argued impoundment law is murky on the matter and have described the tactic as a potential loophole. Some have defended the administration's interpretation of the law and argue lawmakers would have prohibited the maneuver over the years if they wanted to. Not all Republicans are certain about the legality of the use of pocket rescissions, however. 'I don't know. I haven't researched it,' Sen. John Kennedy (R-La.), a senior appropriator and former attorney, said this week when asked by reporters whether pocket rescissions were legal. 'I'd prefer that we not do it that way.' The Louisiana Republican, who has been pushing for the White House to work with Congress to get more rescissions packages out the door, instead said it 'wouldn't bother' him if the administration sent 'a rescission package a week and spell out in detail what they want to propose we cut.' There's been concern from members on both sides of the aisle that the administration's plans to continue to claw back federal funding with only GOP support could threaten bipartisan funding talks for fiscal 2026. But Republican rifts over the president's latest rescissions requests were also an issue. The party clashed over potential cuts to programs like the President's Emergency Plan for AIDS Relief and public broadcasting dollars that help fund not only PBS and NPR, but also local stations some Republicans say their constituents depend on. Under the pocket rescissions strategy, experts say the administration could reduce some funding by strategically holding up appropriations set to expire at the end of the fiscal year. If Congress chooses not to approve the administration's request for cuts, it could still provide funding for the program as part of a deal to keep the government open past September. Congress often opts to keep government funding levels mostly the same at the start of a new fiscal year to buy time for a larger deal updating funding levels. But experts have emphasized that would be 'new funding,' noting funding an account was denied at the end of the fiscal year as part of a pocket rescission likely would not roll over into the next. Asked whether another rescissions plan could worsen the outlook for a funding deal for fiscal 2026, House Appropriations Chair Tom Cole (R-Okla.) said this week that 'the only thing that would worry me is if Congress didn't get a chance to vote on it, that's the key thing.' 'I don't want to see things up here that get jammed where Congress doesn't vote.' Cole was asked whether he was referring to pocket rescissions. 'I don't care procedurally what you want to call it,' he responded. 'I expect Congress to vote on these things, and you know that would worry me, and I know that would worry my colleagues in the other chamber, on both sides of the aisle, certainly worry my Democratic colleagues here.' 'And there's a lot of Republican concern about this too,' he added.
