BAE Completes U.S. Shipyard Purchase

LONDON (AP) -- British defense contractor BAE Systems PLC has completed the purchase of Atlantic Marine Holding Co., a U.S.-based firm which repairs, maintains and supports construction of vessels.

BAE Systems said Wednesday it had completed the purchase from J.F. Lehman & Co., a private equity firm, for $352 million.

BAE acquired Atlantic Marine's operations at Mayport and Jacksonville, Florida; Moss Point, Mississippi, and Mobile, Alabama.

BAE also operates ship repair facilities in Hawaii, San Diego and Norfolk, Virginia.

J.F. Lehman retains Atlantic Marine's operations in Boston and Philadelphia.

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