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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

No Clues on Hanjin's Financial Health

Cash-strapped Hanjin Shipping Co. sources say that the negotiations with tonnage providers for lower rates are undergoing, but wouldn't say much else.   According to Korea Herald, the country's No.

DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

Contracts

Technip Bags Woodside's Subsea Contract

Technip has been awarded a large(1) subsea contract by Woodside to support the development of the Greater Enfield Project offshore Western Australia, at a water

LNG-fueled Bulker Ordered from Korea

Hyundai Mipo Dockyard (HMD) has signed a contract to build a 50,000 dwt bulk carrier with ILSHIN LOGISTICS. The project is a collaboration between POSCO and ILSHIN

Broad Declines drag Baltic Index down

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday on lower rates for capesize, panamax and supramax vessels.

Shipbuilding

Keel Laying for Russia's Second Nuclear Icebreaker

Today the Baltic Shipyard in St Petersburg (part of United Shipbuilding Corporation) laid the keel of Ural, Project 22220’s second series-produced nuclear icebreaker.

Russia: 6th Yasen-Class Nuclear Sub

Russia's sixth Yasen-class nuclear submarine will be laid down at the Sevmash ship-building company in the city of Severodvinsk on July 29, reports RIA Novosti.

NASSCO Delivers Garden State to APT

Marking its seventh ship delivery in the span of just over a year, General Dynamics NASSCO has delivered the newly built ECO Class tanker Garden State for American Petroleum Tankers.

Ship Repair & Conversion

CNCo Orders Remote Monitoring for 35 Vessels

Radio Holland, a global NavCom and service company in the maritime industry, said it has concluded  a maintenance and remote monitoring agreement with The China

BMT to Lead Repower for Historic USCG Eagle

BMT Designers & Planners, a subsidiary of BMT Group, an international maritime design, engineering and risk management consultancy, is leading the effort to repower the historic U.

Ecofix Filler Coat Cuts Rudder Repairs Cost

With an increasing trend for thruster and rudder manufacturers finishing their products with self-cleaning protective hard coatings, Antwerp headquartered Subsea

 
 
Maritime Security Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction 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: 0.1177 sec (8 req/sec)