Trump says US will hold 40% stake in new Maryland defense shipyard
06/10/2026 21:11
Trump says US will hold 40% stake in new Maryland defense shipyard WASHINGTON, Oct 6 (Reuters) - President Donald Trump said on Tuesday the United States will hold a 40% stake in a new defense shipyard in Maryland.
"American taxpayers will receive a 40% stake in the new shipyard. We get 40% and the storied grounds of Sparrow's Point will never fall silent again," Trump said on Tuesday.
Defense tech firm Anduril unveiled plans on Tuesday for a $3.7 billion shipyard in Maryland, with the project expected to generate 3,100 jobs and receive a $2.9 billion US Navy contract.
(Reporting by Nandita Bose, Costas Pitas and Kanishka Singh in Washington; editing by Michelle Nichols )
((Kanishka.Singh@thomsonreuters.com; +12024508248;))
Recent news on HUNTINGTON INGALLS INDUSTRIES
See all newsBrief: Former Hii CEO Mike Petters Joins Board Of Directors
Brief: HII’s Ingalls Shipbuilding Awarded $99 Mln Contract Modification For DDG 1002 Sea Trials
Norway wealth fund should invest in top arms makers, commission says in ethics overhaul (updated)
Norway should allow wealth fund to invest in major arms makers, commission says
Norway's wealth fund set to overhaul ethical rules after US scrutiny