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BAE To Acquire Ship Repair Firm MHI

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Britain’s BAE Systems yesterday said it has agreed to acquire the Virginia-based Naval ship repair firm Marine Hydraulics International Inc. (MHI), a deal that further expands it capacity and expertise in ship repair business. BAE is paying $69 million in cash for MHI, which is based in Norfolk, Va., home of the Navy’s Fleet Forces Command. MHI had $113 million in sales last year. Once the deal closes, which is expected to occur in the first quarter of 2013, MHI…

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