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 October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Marorka Opens Offices in Copenhagen

Marorka announced it is currently expanding following a substantial injection of funds. The expansion plan was approved and Marorka will extend its worldwide network in 2014.

DP World Mulls Senegal Free Zone

DP World  is looking to develop a free zone in Senegal, Chairman Sultan Ahmed bin Sulayem said on Wednesday. Sulayem was speaking at an African investment event in Dubai.

Contracts

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Australia, US Order Anti-ship Missile Decoys

Design of the next generation of anti-ship missile decoys is set to commence following the signing of two contracts between the Australian Defense Force and BAE Systems Australia Pty Ltd.

General Dynamics Bags $ 50 mi Submarine Contracts

General Dynamics Advanced Information Systems, a business unit of General Dynamics was awarded two contract modifications totaling $50 million to continue supporting

Shipbuilding

MAN Propulsion Packages for New Trawler Series

Orders for five fresh-fish trawlers feature two different ship designs and MAN 6L27/38 engines and aft-ship equipment Icelandic owners, HB Grandi, Vinnslustodin hf.

US Shipyard to Produce GTT's LNG Membrane Tanks

Gaztransport & Technigaz (GTT), a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), via its U.

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

Ship Repair & Conversion

Industry Professionals to Speak at ShipConstructor Conference

The speakers representing various companies at next week's SSI Americas ShipConstructor User Conference, October 7-9, 2014 in Mobile, Alabama, demonstrate SSI's

HII Appoints Brenton as Corporate Director

Huntington Ingalls Industries (HII) announced today that Capt. Kevin Brenton (U.S. Navy, Ret.) has joined the company as corporate director of customer affairs for submarine programs.

New Simulation Tool for Collision Reconstruction

BMT ARGOSS and BMT Surveys, subsidiaries of BMT Group Ltd, the international design, engineering and risk management consultancy, announced an innovative new service

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1552 sec (6 req/sec)