<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 30, 1997
NEWPORT NEWS SHIPBUILDING INC.
(Exact name of registrant as specified in its charter)
Delaware 1-12385 74-1541566
(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
4101 Washington Avenue, Newport News, VA 23607-2770
(Address of principal executive offices) (Zip Code)
(757) 380-2000
(Registrant's telephone number, including area code)
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ITEM 5. Other Events.
The information contained in the Company's News Release of January 30,
1997, set forth as Exhibit 20.1 to this Current Report on Form 8-K, is hereby
incorporated into this Item 5 by reference.
ITEM 7. Financial Statements and Exhibits.
(c) Exhibits
See pages 3 through 5 of this Report.
20.1 News Release of Newport News Shipbuilding Inc. dated January 30, 1997
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
NEWPORT NEWS SHIPBUILDING INC.
/s/ Stephen B. Clarkson
-----------------------------------
By: Stephen B. Clarkson
Vice President, General Counsel and
Secretary
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news [LOGO] NEWPORT NEWS
release SHIPBUILDING
[The following is a joint news release of Mobil Corp. & Newport News
Shipbuilding]
Mobil to Purchase New Double-hull Ship
from Newport News Shipbuilding
Ship will be first American-built vessel to meet new standards
for transporting petroleum products in U.S. coastal waters
FAIRFAX, Virginia, January 30, 1997--Mobil Corporation and Newport News
Shipbuilding today announced that Mobil will purchase the first newbuild
double-hull ship built in a U.S. shipyard that meets the requirements of the
U.S. Oil Pollution Act of 1990 (OPA-90). OPA-90 requires that by 2015 all ships
carrying petroleum products in U.S. coastal waters be double-hull.
The petroleum product tanker was the first vessel of a four-ship order
received by Newport News from another shipping company, but through an agreement
among the three companies the ship is being sold to meet Mobil's near-term
transportation needs.
"This fine new ship underscores our commitment to operate a fleet of
state-of-the-art double-hull vessels that meet or exceed U.S. and international
environmental and safety requirements," said Gerhard Kurz, president of Mobil
Shipping and Transportation Company. "The purchase of this ship reflects Mobil's
commitment to maintaining its traditional position as a leader in marine
transportation. And we are particularly pleased to have her available to support
our transportation needs in the sensitive South Florida environment."
-more-
4101 WASHINGTON AVENUE . NEWPORT NEWS, VIRGINIA 23607-2770
http:\\www.nns.com
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MOBIL/NEWPORT NEWS SHIPBUILDING
2/2/2
"Mobil came to us looking for a ship to replace one that was being retired
from service later this year," said Bill Fricks, chairman and chief executive
officer of Newport News Shipbuilding. "We had one that was nearing completion
for another customer and were pleased that we were able to structure an
arrangement that was good for all three companies."
Mobil will employ the 45,000 deadweight-ton, double-hull ship to transport
refined petroleum products -- gasoline and distillates -- to its Florida
markets.
The new ship will be Mobil's third double-hull vessel to enter service. Two
VLCCs (Very Large Crude Carriers), RAVEN and EAGLE, are now in service, and two
more double-hull VLCCs are on order.
"Mobil takes safety and protection of the marine environment very
seriously," said Kurz. "Double-hull technology is only part of the answer. Well
trained crews, good maintenance practices, a sound management structure and a
total commitment throughout the organization are also essential."
Mobil is a leading oil, natural gas and petrochemical company with
operations in more than 125 countries. Mobil Shipping and Transportation Company
owns or controls 33 ocean-going tankers which transport two million barrels of
crude oil and refined petroleum products per day, accounting for 5% of the
petroleum products transported world-wide over water.
-more-
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MOBIL/NEWPORT NEWS SHIPBUILDING
3/3/3
Newport News Shipbuilding (NYSE:NNS) is America's largest ship design and
construction company. It has produced approximately 800 ships during its 111
years of operations--including Navy aircraft carriers, submarines and cruisers.
It is currently building the nuclear-powered aircraft carriers Harry S. Truman
(CVN 75) and Ronald Reagan (CVN 76) and has begun work in preparation for
construction of the Navy's New Attack Submarine. The company's 1995 revenues
totaled $1.8 billion, with operating income of $157 million. It has a current
backlog of orders totaling approximately $3.5 billion. Its workforce of 18,000
makes it Virginia's largest private employer.
###
Contact: Mobil, Don Turk (703)849-7508
Newport News Shipbuilding, Jerri Dickseski (757)380-2341
January 30, 1997
