The following is the text of a press release issued Oct. 15 by Northrop Grumman:
(LOS ANGELES) — Northrop Grumman today announced the filing of a Form 10 registration statement with the U. S. Securities and Exchange Commission in connection with the exploration of strategic alternatives for its shipbuilding business.
Northrop Grumman continues to explore various alternatives for the potential separation of its shipbuilding business, including a spin-off or sale of the unit. Today’s filing is the initial step toward executing a potential spin-off. Northrop Grumman is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.
Certain statements and assumptions in this press release contain or are based on “forward-looking” information. Such “forward-looking” information includes, and is subject to, numerous assumptions, risks and uncertainties, many of which are outside Northrop Grumman’s control. Northrop Grumman’s filings from time to time with the Securities and Exchange Commission including, without limitation, reports on Form 10-K and Form 10-Q, describe such economic, political and technological risk factors and other uncertainties. Northrop Grumman does not undertake to update any forward-looking statements in this press release to reflect events, circumstances or changes in expectations after the date of this press release.