Enter multiple symbols separated by commas

Northrop Grumman to Close Louisiana Shipyard

Northrop Grumman says it will close down a Louisiana shipyard and may shed its entire division that makes warships for the Navy.

The company says it will close its Avondale facility by 2013 as it consolidates its shipyards on the Gulf Coast. The moves come as the shipyard winds down construction of Navy transport ships.

About 5,000 people work at the facility. Northrop says some could move to a Pascagoula, Miss. shipyard, but did not say how many.

Northrop also says its is exploring "strategic alternatives" for its shipbuilding business. Those include a possible spinoff to shareholders.

Contact Autos


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.