NG closing Avondale, may shed shipbuilding

Northrop Grumman is closing its shipyards in Avondale and Tallulah, La., and consolidating its work in Pascagoula, Miss., while it considers shedding all its shipbuilding operations. According to the company, it's exploring "strategic alternatives" for its shipbuilding unit, which also includes Newport News in Virginia. That includes the possible sale or spin off to shareholders. CEO Wes Bush said the company sees little synergy between shipbuilding and its other business. (Sources: Sun-Herald, Mobile Press-Register, Virginia Pilot, Wall Street Journal, 07/13/10)