Official sources have revealed that shipbuilder and repairer Atlantic Marine looks set to a new future under BAE Systems' North American operations after the aerospace giant completed its acquisition of the shipyards for a cash price of $352 million.

BAE spokeswoman Stephanie Moncada told United Press International, "BAE Systems' desire to acquire Atlantic Marine is solely based on their excellent record of performance in the shipbuilding and repair industry over the past several years."

The Atlantic Marine operations at Mayport and Jacksonville, Fla.; Moss Point, Miss.; and Mobile, Ala., employ about 1,000 people and are engaged with both maintenance and construction.

It has been reported that the diverse range of Atlantic Marine operations in the past have entailed conversion, overhaul and various marine fabrication services for both military and non-military uses.

According to a company news release, with the facilities' acquisition by BAE the entire set-up acquired will now be known as BAE Systems Southeast Shipyards.

Bill Clifford, president of BAE Systems Ship Repair, said, "We are proud to welcome the highly skilled men and women of Atlantic Marineto BAE Systems. Together, we'll continue to provide cost-effective solutions to meet our customers' evolving requirements."

Clifford further said that the newly renamed BAE Systems Southeast Shipyards will complement the company's existing ship repair, maintenance, and modernization capabilities to further serve the U. S. Navy and other maritime customers. (With Inputs from Agencies)