BAE Systems To Boost Ship-Servicing Business With MHI Buy

Law360, New York (November 15, 2012, 5:36 PM EST) -- BAE Systems Inc. has agreed to acquire Marine Hydraulics International Inc. from American Maritime Holdings Inc. for an undisclosed price in an effort to expand its ship repair and other maritime services, it said in a statement Thursday.

The acquisition of the Norfolk, Va.-based company would augment BAE's existing ship repair unit, which manages full-service shipyards in Norfolk, Jacksonville, Fla., Mobile, Ala., and other strategic ports around the country. MHI's 400 employees would join BAE's workforce if the deal is approved.

“The proposed addition of MHI's...
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