Racal Electronics Plc has headed to the other side of the world for its latest acquisition, buying an 80% stake in Singapore-based Techno Transfer Industries Ltd for #9.7m cash. Racal will also acquire Asiatic Underwater Contractors, a subsidiary of Techno Transfer that provides services to the offshore oil industry. Asiatic Underwater Contractors and Techno Transfer, which makes and operates remote control submersible vehicles, made combined pre-tax profits of #345,000 in the year to June 30 1993, on turnover of #3.1m. Racal says that 50% of projected 1994-95 revenues are already covered by orders, and that the two firms are on course almost to double 1993 turnover within two years, and to make a pre-tax margin of 20% on their businesses.
