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

AmClyde Proves An Ally In The Search For Offshore Oil
Atlantic Marine Celebrates Dedication Of Glomar Explorer
Australian Shows Focus On Technology, Market Expansion
Cegelec Wins Dynamic Positioning System Order From Cable & Wireless
Crucial Mating Of Hibernia Topsides A Success
Elf Floating Production Unit Ready To Leave For Nkossa Field
First IPG FSO Installed Off Nigeria
Getting Tke Bugs Out
Hitec To A c q u i r e M a r i n e Consulting G r o u p
Industry Vital Signs Looking Good
Lisnave Continues To Set Trends
MarAd Seeks Information On Launch Barges
Marcon International Sells Vessels For Canadian Marine, Hornbeck
NKK To Build Icebreaking Patrol Ship For Safety Agency
Offshore: Gearing Up For The Rebound
Oil Price Instability Slows Offshore Euphoria
PC Operator Workstation Uniquely Suited For Maritime Use
Pool Energy Makes Several Offshore Investments
Renk To Focus On Products For Fast Speed Ferries
SCANDINAVIA. A Region Of Technology Drivers
Seabulk Offshore Ltd. Modernizes Offshore Supply Vessel Fleet
Sonsub Purchases Perry Tritech ROV
Tanker Markets Endure Political, Economical, Cyclical Turmoil
The Irish Sea Pioneer: A New Generation Of Giant Liftboat
The Revitalized U.S. Title XI Financing Guarantee Program Available To The Energy Industry
The Storm Before The Calm?
The Year In Review
TO BURN OR NOT TO BURN: That Is The Etologhal Question
Vast Opportunities Technology, economics buoy Gulf Coast prospects
Weathering The Storm. National Weather Service Modernization to provide the maritime industry with improved weather prediction
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright