Racal Electronics Plc has signed an agreement to sell its Racal- Decca marine electronics business to Litton Industries Inc of Beverly Hills, California for 29.5m British pounds. Racal expects to take an exceptional gain of about 6m pounds on the sale of the unit, which is based at New Malden, Surrey. The transaction includes the global businesses of Racal-Decca Marine group, with the exception of UK Decca Navigator chains and the nonmarine activities of Decca South Africa, Racal said. Racal plans to use proceeds from the sale, to close by the end of its fiscal in March, to cut debt. Racal-Decca, maritime radar and navigation systems, had operating profit in the year to March of 3.1m pounds before 800,000 pounds in charges.
