BAE Systems to spend $100M on shipyard expansion

• BAE Systems (OTCPK:BAESY -1.5%) is expanding its dry-docking capabilities at its San Diego shipyard, enhancing the ship repair, maintenance, and modernization services the company provides the U.S. Navy and other customers.
• The investment, which will include the purchase of a new dry dock and a range of infrastructure improvements at the yard, will total approximately $100M.