Milestone event at Pascagoula foundry draws Mississippi Governor Tate Reeves and key stakeholders to mark defense industry and regional economic growth

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has finalized its acquisition of the Rolls-Royce Naval Propulsors business. This milestone was celebrated at the newly acquired Pascagoula, Mississippi, foundry, where Governor Tate Reeves, Fairbanks Morse Defense CEO Steve Pykett, Jackson County Economic Development Foundation Deputy Director Mary Martha Henson, and other community and industry leaders gathered to recognize the significance of the acquisition to both national security and regional economic growth.

The Fairbanks Morse Defense Pascagoula facility is the only privately owned foundry in the United States capable of casting large Navy-standard propulsor systems, making it a critical component of the maritime defense supply chain. Now operating through a naval-focused defense contractor, the facility is being fully integrated into Fairbanks Morse Defense’s broader portfolio of naval technologies. The strategic shift is designed to boost support for the U.S. Navy through enhanced responsiveness, increased investment, and continued innovation, while also preserving skilled jobs and strengthening Mississippi’s industrial economy.

“This acquisition represents a strategic investment in sustaining the United States’ defense manufacturing capabilities and ensuring we remain prepared to meet mission-critical demands,” said Steve Pykett, CEO of Fairbanks Morse Defense. “The Pascagoula foundry, in particular, plays a vital role in supporting the Navy’s maritime dominance, and its continued operation expands our capacity to serve as a trusted partner to the U.S. military. Integrating these highly skilled workforces into Fairbanks Morse Defense strengthens our ability to deliver on our mission of supporting warfighter readiness at home and abroad.”

Event guests had a rare opportunity to tour the foundry and directly engage with leaders who are committed to advancing both national security and Mississippi’s manufacturing economy. During his opening comments, Governor Reeves underscored the broader economic impact of the foundry on the state’s economy.

“The acquisition of the Pascagoula foundry by Fairbanks Morse Defense is a strategic win for Mississippi and our nation’s defense,” said Governor Reeves. “This move reinforces our state’s commitment to supporting the defense industrial base. Mississippi stands ready to provide the skilled workforce and robust infrastructure necessary to ensure our defense partners have the resources they need to succeed.”

Jackson County Economic Development Foundation Deputy Director Mary Martha Henson echoed this sentiment, emphasizing the value of local resources and community commitment.

“Fairbanks Morse Defense is joining a community that knows how to get the job done,” Henson said. “Jackson County has the infrastructure, workforce, and partnerships to help defense manufacturers thrive because we’re focused on building a regional hub that strengthens our economy and supports national security. We look forward to working with Fairbanks Morse Defense to grow local opportunity and ensure their success here on the Mississippi Gulf Coast.”

The Pascagoula site is one of several key assets included in the Rolls-Royce Naval Propulsors’ business acquisition. Fairbanks Morse Defense also gains a manufacturing campus in Walpole, Massachusetts, to produce critical propulsor systems for the U.S. Navy, Coast Guard, and allied naval fleets. Additionally, Fairbanks Morse Defense is in the process of acquiring Rolls-Royce’s facility in Peterborough, Ontario, where it will support handling systems and undersea technology, including the Mission Bay Handling System used in the Global Combat Ship programs of the U.K., Canada, and Australia.

Source: BUSINESS WIRE