Complex sentence: By 1882, Hyde Windlass was expanding with an eye to entering the new and growing business of iron shipbuilding, and on February 28,1890 the recently-incorporated Bath Iron Works won its first contract for complete vessels, two iron gunboats for the U.S. Navy.
Split into simpler sentences: By 1882, Hyde Windlass eyeing the new and growing business of iron shipbuilding; two years later, it incorporated as Bath Iron Works. On February 28,1890, BIW won its first contract for complete vessels, two iron gunboats for the U.S. Navy.