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General

RACAL HEALTH & SAFETY TO BE SOLD TO 3M FOR GBP43.2 MIL

Friday 5 December 1997 | 00:00 CET | News
Racal Health & Safety (RHS), face mask making division of Racal Electronics, will be sold to 3M, consumer and healthcare diversified industrial group, for GBP43.2 mil. Racal will use the proceeds to reduce its debt, which was GBP340 mil by March 1997, and will book a GBP20 mil profit on the disposal. RHS made an operating profit of GBP400k on sales of GBP45 mil in 1997, and employs around 600 workers in Australia, N America, and Europe. The reason for the sale, according to Racal, is that RHS did not fit within its defence and electronic activities. Separately, an update on Racal's intentions

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Categories: General
Countries: United Kingdom
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