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Northrop Grumman Files With SEC For Potential Spin-Off of Ships Business

DDN

Monday, October 18th, 2010

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By Calvin Biesecker As part of its ongoing process of exploring strategic alternatives for its shipbuilding business, Northrop Grumman [NOC] on Friday filed with the federal government for a potential spin-off of the segment. The Form 10 registration with the Securities and Exchange Commission (SEC) "is the initial step toward executing a spin-off," the company said. Northrop Grumman in July announced that it was looking to divest the shipbuilding business, which has operations in Louisiana, Mississippi and Virginia, with the…

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