Teledyne Enters Agreement to Acquire MGD Technologies Inc.
Lincoln, NE, - October 28, 2005 - Teledyne Technologies Incorporated (NYSE: TDY) announced today that a subsidiary Teledyne Isco, Inc., has entered into an agreement to acquire MGD Technologies Inc. based in San Diego, California. The transaction is expected to close during November 2005, and is subject to customary closing conditions.
Founded in 1996, MGD's principal business focuses on the development, manufacture, sales, repair, and sustaining engineering of a unique velocity profiling flow measurement system. MGD's patented ADFM™ Velocity Profiling flow meters operate on an innovative pulse-Doppler principle that is truly revolutionary to the customer industries served throughout the world. Typical projects of MGD include applications in wastewater, combined sanitary/stormwater, industrial waste, stormwater, irrigation, and other non-potable water conveyance systems.
MGD's velocity profiling flow measurement systems will complement Teledyne Isco's innovative flow measurement and data management products, which are widely used in wastewater collection networks and treatment plants worldwide.
For additional information contact Teledyne Isco at (402) 464-0231 or (800) 228-4373, or e-mail to isco\email@example.com. Visit Teledyne Isco's website at: www.isco.com.