Teledyne Receives Air Force Material Command Contract
LOS ANGELES - October 17, 2006 - Teledyne Technologies Incorporated (NYSE: TDY) announced today that its subsidiary, Teledyne Wireless, Inc., d/b/a Teledyne MEC, has signed a ten year contract worth up to $370 million with the Air Force Material Command (AFMC). The contract covers nine (9) Federal Stock Classes (FSC) and sixty-six (66) unique National Item Identification Numbers (NIINs) and allows for AFMC wide decentralized ordering. Teledyne will continue to support parts and assemblies used on F-15, F-16, B-1B, B-52, C-130 and other aircraft.
"This contract serves as a long-term mutually beneficial sourcing vehicle focused on increasing availability, reducing costs and lead time all in support of improving overall performance to the warfighter," said Patsy Reeves, director of contracting, Warner Robins Air Logistics Center.
"Teledyne is a key supplier to the Air Force and this contract is a major step in developing a collaborative partnership that will provide even better support to our systems," said John Blair, director, 542nd Combat Sustainment Wing, Warner Robins Air Logistics Center. "We look forward to working with Teledyne to provide world class support to the men and women in the Air Force. They deserve nothing less."
"We are proud to be a proven and valued supplier of parts and assemblies to AFMC in support of our nation's warfighters," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies Incorporated. "This contract provides a solid foundation for working together with AFMC to achieve even higher levels of value and responsiveness in everything we supply to them."
Teledyne Technologies is a leading provider of sophisticated electronics components, instruments and communication products, systems engineering solutions, and aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Canada and Mexico. For more information, visit Teledyne Technologies' website at www.teledyne.com.
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, with respect to a government contract. Actual results could differ materially from these forward-looking statements. Many factors, including changes in government spending could change anticipated results. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Teledyne Technologies' periodic filings with the Securities and Exchange Commission, including its 2005 Annual Report on Form 10-K and Forms 10-Q. Teledyne assumes no duty to update forward-looking statements.