Ingalls Gets $4 Billion Contract Through Swap Agreement

A swap agreement between Ingalls and one of its competitors has resulted in $4 billion contract for the Pascagoula shipyard.

Under the agreement approved by the Navy, Ingalls picks up the construction of four amphibious assault ships over the next several years. Bath Iron Works in Maine previously held that contract.

In return, Ingalls is giving to Bath the contract to build one Aegis Destroyer already awarded, and three future ships. That contract was worth about $2.3 billion.

The new Ingalls deal is worth about twice as much.