By Jed Lipinski, | The Times-Picayune on June 02, 2014 at 4:28 PM, updated June 02, 2014 at 4:37 PM

In what may be a good sign for Avondale Shipyard, Huntington Ingalls Industries announced today that is has acquired UniversalPegasus International Holdings, a Houston company that provides engineering and project management services to the energy sector.

The news comes shortly after Huntington Ingalls, a shipbuilder based in Newport News, Va., agreed to conduct a six-month study with Kinder Morgan Energy Partners to determine a new use for the struggling shipyard, whose workforce has been reduced to less than 500 from around 5,000 in 2010. Keep Reading >