BAE Systems buy US firm Marine Hydraulics

BAE Systems has agreed to buy Marine Hydraulics International, based in the US, for $69m in cash.

BAE Systems has agreed to buy Marine Hydraulics International, based in the US, for $69m in cash.

Marine Hydraulics International is a marine repair, overhaul and conversion company that had sales of $113m in 2011. It employs approximately 400 people supporting the US Navy and other maritime customers and would be integrated with the BAE Systems Ship Repair business.

It looks like a very good fit as BAE Systems Ship Repair, based in the US, is America's leading provider of non-nuclear ship repair, modernization, conversion, and overhaul for government and commercial customers.

The proposed acquisition is conditional, among other things, upon receiving certain regulatory approvals, and is expected to close during the first quarter of 2013.

CM

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