US - The Retirement Systems of Alabama (RSA) have completed a US$100m investment in shipbuilding firm Signal International.
Signal operates shipbuilding and oil-rig maintenance services from six locations throughout Alabama, Texas and Mississippi. It is understood the company is to move its headquarters in the near future from Pascagoula, Mississippi, to the RSA's offices in Mobile, Alabama.
Signal was bought by a private equity firm, ACON Investments, in 2003. It retains a minority share in the venture.
The RSA was unavailable for comment.
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