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McDermott International Inc. said its Babcock & Wilcox unit completed the sale of its Bailey Controls Operations to Finmeccanica S.p.
A. for $295 million. 

Finmeccanica is an Italian state-owned holding company with interests in the mechanical engineering industry. 

Bailey Controls, based in Wickliffe, Ohio, makes computerized industrial controls systems.
It employs 2,700 people and has annual revenue of about $370 million. 

