Northrop Grumman may spinoff its shipyards into a new company - WLOX.com - The News for South Mississippi

Northrop Grumman may spinoff its shipyards into a new company

PASCAGOULA, MS (WLOX) - Northrop Grumman officials will not talk in specifics about reports that instead of selling their shipbuilding facilities, they'll spin it off into a new company.

The report on Bloomberg.com quoted analysts who said Northrop would be better served if its shipbuilding unit was under a dedicated management team. In July, Northrop Grumman announced it wanted to get out of the shipbuilding business.

If it got rid of its ship unit, Northrop would be left with an aerospace division, an electronics division, an information systems division, and a technical services division.

A buyer from Cleveland expressed interest in the ship unit. But so far, a deal to sell Northrop's shipyards, including facilities in Pascagoula and Gulfport has not been completed.

On Friday, Northrop Grumman spokesman Randy Belote told WLOX News, "We are continuing our analysis for alternatives for that business. We haven't made a decision." Belote said whether to spin off the shipbuilding portion of Northrop Grumman or sell it would take several quarters to be finalized.

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