HII to enter energy field

Huntington Ingalls Industries of Newport News, Va., parent of Ingalls Shipbuilding in Pascagoula, Miss., announced today that it entered an agreement to acquire UniversalPegasus International Holdings, a provider of engineering and project management services to the domestic and international energy markets. The transaction, subject to customary reviews, is expected to close in June. UPI has some 1,500 employees and has provided a broad range of engineering and project management services to the energy industry for over 50 years. (Source: Huntington Ingalls, 05/16/14)