Mobile, AL – The Retirement Systems of Alabama has become the largest investor in Signal International, with a $100 million purchase of shares in the shipbuilding firm that will move its headquarters from Pascagoula, Mississippi, to RSA's Battle House Tower, a new skyscraper in Mobile.
RSA bought about $100 million worth of shares in the $240 million company, said RSA chief David Bronner of Montgomery.
He said RSA had been working on the deal for ``months and months.''
Signal builds and repairs ships and offshore oil rigs. The firm employs about 3,000 people in Mobile, Pascagoula and in Texas at Houston, Port Arthur and Orange.
The company leased 6,000 square feet of office space.
(Copyright 2008 by The Associated Press. All Rights Reserved.)