Teledyne Awarded $7.9 Million Washington Contract
LOS ANGELES - January 5, 2006 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that Teledyne Brown Engineering, Inc., a producer of nuclear-quality containers since 2000, has been awarded a $7.9 million subcontract by Washington Savannah River Company (WSRC) to deliver an additional 1,056 containers over the next four years. There is also an option for a one-year extension valued at $2 million.
The canisters built by Teledyne Brown will be used to contain vitrified high-level nuclear waste for permanent storage and disposal. Vitrification is a technique where the waste is mixed with glass-forming chemicals that solidify and lock in the dangerous chemicals. Waste can be stored in that form for very long periods of time.
"We are pleased to be able to continue manufacturing and delivering quality canisters to Savannah River," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "Teledyne Brown has demonstrated its expertise in being able to meet the specialized demands of the nuclear industry."
WSRC is supporting Department of Energy's Defense Waste Processing Facility (DWPF) Canister Program.
In March, Teledyne Brown received recertification from the American Society of Mechanical Engineers (ASME). This certification, which is valid for three more years, means that Teledyne Brown's nuclear quality assurance program and nuclear design and manufacturing operations have met the strict standards of the nuclear industry.
The canisters will be manufactured at Teledyne Brown's facility in Huntsville. No nuclear waste will be processed or stored in them at the Huntsville facility.
Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Mexico and Canada. For more information, visit Teledyne Technologies' website at www.teledyne.com.