Marine link
 
Articles - Offshore Oil - History

Racal Acquires Techno Transfer Industries

Racal Electronics has acquired an 80 percent majority shareholding in Singapore-based Techno Transfer Industries (TTI), specialists in the manufacture and operation of remotely operated submersible vehicles (ROVs), for $14 million in cash. The acquisition, which has been supported by the directors of Techno Transfer Industries, includes the wholly-owned subsidiary Asiatic Underwater Contractors which provides ROV operation services to the offshore industry and to more than 50 percent of the drill rig-support market in South East Asia. Frank Vespa and Sam Sassoon will each retain a 10 percent shareholding in TTI and will continue as managing director and finance director, respectively. TTI becomes part of the Racal Energy Group, which includes Racal Survey and Racal Positioning Systems, providers of survey and positioning services to the offshore oil and gas industries worldwide.

David Elsbury, chief executive of the Racal Electronics Group, said, "The acquisition of Techno/Asiatic, with its modern fleet of 11 ROVs, provides us with a cost effective entry in a market which is currently worth ($146 million) per annum and is expected to increase as the pace of offshore exploration and development quickens in the second half of the decade."




Offshore Oil History

ADVANCES IN TANKER PROPULSION
AmClyde Proves An Ally In The Search For Offshore Oil
Crucial Mating Of Hibernia Topsides A Success
Dubai Wins FSO Conversion; Dalian Completes Graving Dock
First IPG FSO Installed Off Nigeria
Flow Intl. Introduces Ultrahigh-Pressure Waterjet Cleaning System
GLO Solicits Commenb On Oil Spill Legislation
Hie Outlook for Oil Shipping to 2000
Hitec To A c q u i r e M a r i n e Consulting G r o u p
New Cat Engines Offer Fuel Savings, Low Emissions for OSVs
Oil Prevention Program In Former Soviet Bloc
Oil Price Instability Slows Offshore Euphoria
OPA ' 9 0 Implementation
OTC "94
OTC v93
Pool Energy Makes Several Offshore Investments
SCANDINAVIA. A Region Of Technology Drivers
Seabulk Offshore Ltd. Modernizes Offshore Supply Vessel Fleet
Seacor Concludes Agreement To Purchase Graham's Marine Assets
Shifting Tides Continue To Produce Uncertainty
Spain Mob Waves is Niche Market Contender
Stolt Comex Acquires Australian Co., Appoints VP For Asia Pacific Region
Stork To Cool Canadian Navy Iroquois Class Ships
Taming The Ether: The Task Of Linking Hibernia To civilization
The Revitalized U.S. Title XI Financing Guarantee Program Available To The Energy Industry
The Year In Review
Vast Opportunities Technology, economics buoy Gulf Coast prospects
Weathering The Storm. National Weather Service Modernization to provide the maritime industry with improved weather prediction
Workboats Northwest Builds USCG-Certified "Near Shore1' Oil Spill Control Vossol
World Petroleum Congress
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright