BAE Systems to acquire Marine Hydraulics International

NOVEMBER 15, 2012—BAE Systems, Norfolk, VA, announced that it 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. The proposed acquisition is conditional, among other things, upon receiving certain regulatory approvals, and is expected to close during the first quarter of 2013.
 
MHI is an employee-owned company that performs marine repair, overhaul, and conversion for the U.S. Navy, Military Sealift Command, Maritime Administration and commercial ship owners and operators. MHI 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.”
 
BAE Systems Ship Repair has a workforce of more than 5,000, with dry docks and pier space, and ship support services across strategic locations in Norfolk, VA.; San Diego and San Francisco, CA; Jacksonville and Mayport, FL; Mobile, AL; and Pearl Harbor, HI.