Shipbuilder HII has settled claims against General Electric Co. that one of its units produced faulty propulsion gears for the USS Gerald R. Ford, the US’s costliest warship, that hobbled the vessel eight months after it was delivered, the companies disclosed.
“Settlement was concluded in the second half of 2023,” GE said in a statement, adding that “there was no lawsuit” and the outcome was “not material” to earnings so its confidential terms weren’t reported in Security and Exchange Commission documents. HII spokesman Danny Hernandez said “the claim has been resolved. Details of the resolution