ATLANTIC MARINE SOLD FOR $352 MILLION
BAE Systems PLC is buying about two-thirds of Atlantic Marine for $352 million from J.F. Lehman & Co. , according to published reports. The sale includes shipyards in Mobile, Ala.; Jacksonville and Mayport, Fla.; and Moss Point, Miss., but not facilities in Boston and Philadelphia. If BAE, a company involved in the development, delivery, and support of advanced defense systems, can get the proper regulatory approvals, it intends to pay for Atlantic Marine in cash. Reports say that BAE has been trying for years to position itself to get a piece of the U.S. Navy repair and newbuild vessel market.