BAE Sytems Agrees to Acquire Marine Hydraulics Intl.

(Press Release)
Thursday, November 15, 2012

BAE Systems  entered into a definitive agreement with American Maritime Holdings, Inc. to acquire Marine Hydraulics International, Inc. (“MHI”), a privately held company that operates a shipyard, pier and waterfront facilities in Norfolk, Va. The proposed acquisition would complement BAE Systems’ support to its customers with enhanced readiness and sustainment maritime services.


MHI is a marine repair, overhaul, and conversion company serving the U.S. Navy, Military Sealift Command, Maritime Administration and commercial ship owners and operators worldwide. The company employs approximately 400 people and would be integrated with the BAE Systems Ship Repair business.
 

“This acquisition is fully aligned with our business strategy to continue to grow in the maritime industry by enhancing our efficiencies and breadth of capabilities, which is consistent with our global strategy to deliver value to our customers with cost-effective solutions,” said Bill Clifford, president, BAE Systems Ship Repair. “The proposed addition of MHI’s operations and highly skilled workforce would strengthen our ability to serve both military and commercial customers in the repair, maintenance and modernization sectors of the naval support and upgrade market.”
The proposed acquisition is conditional, among other things, upon receiving certain regulatory approvals, and is expected to close during the first quarter of 2013.

 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Lerwick Port Promoting Shetland Fishing Industry

The importance of investment in the Shetland fishing industry has been highlighted today by Lerwick Port Authority Chief Executive, Sandra Laurenson. The industry – white fish,

Navios to Expand Fleet with Two VLCCs

Monaco-based tanker owner and operator Navios Maritime Midstream Partners (NAP) plans to launch syndication of a USD 205 million Term Loan B to finance the purchase

Duke Energy to Help Develop Jeffersonville Port Site

Duke Energy Indiana has selected a 140-acre parcel of land inside the Port of Indiana-Jeffersonville in Clark County for the utility's 2015 Site Readiness Program.

Contracts

Bids Placed for Novy Port Icebreaker Contract

Seven companies submit bids for contract for Yamal Novy Port terminal icebreaker   The tendering process for the Yamal Novy Port terminal icebreaker design and build contract has kicked off,

Alewijnse Success at Damen Shiprepair Dunkerque

Electrical system integrator Alewijnse Marine Systems is celebrating the first anniversary of delivering electrical services and maintenance to vessels at Damen Shiprepair Dunkerque.

GE Gas Turbine to Power USCG Cutter

GE LM2500 gas turbine to power United States Coast Guard‘s eighth National Security Cutter   GE Marine reports that its LM2500 gas turbine will power the United

Shipbuilding

NordLB Back to Profit

Although the crisis is not over in all segments, Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first

Bollinger Appoints Sales VP

Bollinger Shipyards announces the promotion of Eric Bollinger to Vice President of Sales.   President and CEO Ben Bordelon made the announcement, stating, “Eric

Lamprell to Implement Software for Automated Manufacturing

U.A.E based offshore jackup rig builder Lamprell Energy Ltd., will implement SSI's EnterprisePlatform software solution to allow its engineering team to automate manufacturing processes.

Ship Repair & Conversion

NordLB Back to Profit

Although the crisis is not over in all segments, Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first

Bollinger Appoints Sales VP

Bollinger Shipyards announces the promotion of Eric Bollinger to Vice President of Sales.   President and CEO Ben Bordelon made the announcement, stating, “Eric

Hyde Marine to Present on BWTS at Nor-Shipping

Company to Share Seamless Integration of Ballast Water Treatment System (BWTS); Experience in Retrofits for Small Footprint Installations at Nor-Shipping Maritime

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1668 sec (6 req/sec)