BAE eyeing US shipyards
BAE Systems has held talks with Atlantic Marine on acquiring the ship repair company with operations in Jacksonville, USA, according to The Financial Times.
Europe’s largest defense contractor would gain Atlantic Marine’s four shipyards along the U.S. gulf and east coasts through a deal worth $200 million to $400 million. The Financial Times reported that industry sources said there was no formal process under way because price remained an issue for JF Lehman, the private equity group that owns Atlantic Marine.
BAE is believed to be a potential buyer when JF Lehman unsuccessfully put the ship repair company up for sale two years ago. The ship repair business is attractive to BAE as operations take a greater strain on vessels and the U.S. Navy focuses on missile defence.
Atlantic Marine Mayport LLC, a subsidiary of Atlantic Marine Holding Co., employs about 800 people and handled roughly $75.36 million worth of government work between November 2008 and August 2009.
