BAE SYSTEMS PLC BA. Acquisition

  BAE SYSTEMS PLC (BA.) - Acquisition

RNS Number : 2485R
BAE SYSTEMS PLC
15 November 2012




                                      

                                      

      BAE Systems - Agreement to acquire Marine Hydraulics International

                                      

                                                              15 November 2012

                                                                             



BAE Systems has entered into a definitive agreement with American Maritime
Holdings, Inc. to acquire Marine Hydraulics International, Inc., a privately
held company that operates a shipyard, pier and waterfront facilities in
Norfolk, Va., for cash consideration of approximately $69 million.



Marine Hydraulics International is a marine repair, overhaul and conversion
company that had sales of $113 million in 2011. The company employs
approximately 400 people supporting the US Navy and other maritime customers
and would be integrated with the BAE Systems Ship Repair business.



The proposed acquisition is conditional, among other things, upon receiving
certain regulatory approvals, and is expected to close during the first
quarter of 2013.





Issued by:

BAE Systems plc

London



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


ACQBSBDBGBBBGDU -0- Nov/15/2012 14:12 GMT
 
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