Teledyne Awarded Major Marine Defense Electronics Contract
THOUSAND OAKS, Calif. – October 16, 2014 – Teledyne Technologies Incorporated (NYSE:TDY) today announced that its Teledyne Oil & Gas group has been awarded a contract by General Dynamics Electric Boat of Groton, Connecticut, for materials and engineering support covering electrical and fiber optic interconnect assembly hardware primarily from Teledyne’s DGO business unit based in Portsmouth, New Hampshire.
This contract represents the largest single award in the fifty-plus-year history of Teledyne DGO and directly supports the U.S. Navy’s Virginia-class submarine program. The contract is a multi-year award, covering a total of ten ship-sets, with manufacturing to commence in 2015.
“This is a significant award for DGO and Teledyne Oil & Gas. Working together, our Oil & Gas companies have demonstrated the ability to develop and manufacture interconnect solutions for the most demanding marine environments,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “We are honored to continue providing Electric Boat with these high quality, SUBSAFE verified products for our nation’s submarine fleet.”
About Teledyne Technologies
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies’ operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne Technologies’ website at www.teledyne.com.
Forward-Looking Information Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a contract award. Actual results could differ materially from these forward-looking statements. Many factors could change anticipated results, including funding, continuation and award of government programs, as well as cuts to government spending resulting from future deficit reduction measures.